OhMyNews in Biz Problem

Moon Ih Lwan from BusinessWeek.com reports

that South Korea - based web site OhMyNews,

one of the earliest and most successful online citizen media ventures,

is struggling financially.

“this site continues to look for a profitable business model and, after several years of small profits, is expected to lose money in 2006”

Also the author wrote about OhMyNews

in separate paragraphs which are titled “Korea-specific,” “Fans abroad,”

and “Blogging rivals, connecting with the business problem”

The article says“For the moment, though, the company remains long on idealism but short on a workable business strategy”