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The interactive online newspaper OhmyNews has formed a strategic partnership with Japan¡¯s Softbank, which has promised invest W11 billion (US$11 million) to help the company export its groundbreaking model of ¡°participatory journalism,¡± OhmyNews said Wednesday.
Softbank will directly invest W5.2 billion into the Korean company, becoming the second largest shareholder with a 12.95 percent stake. The rest will be spent on establishing OhmyNews International next month, for which the Korean site will bear 70 percent of the cost and the Japanese partner the other 30 percent.
The daily¡¯s president Oh Yeon-ho said OhmyNews International will then establish a Japanese website modeled on the Korean concept by August. Softbank provides high-speed Internet services and operates the web portal Yahoo Japan. Its president is the maverick dot.com pioneer Masayoshi Son, who is busy transforming it into a media company.
(englishnews@chosun.com )
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