Twitch To Shut Operations in South Korea in February 2024
Amazon-owned streaming service Twitch has announced that it will shut operations in South Korea on Feb. 27, 2024. According to the platform, high operating costs and network fees are the most significant drivers behind its decision. The company has operated at a loss in the country and does not see a way forward. CEO Dan Clancy stated, “ Twitch has been operating in Korea at a significant loss, and unfortunately, there is no pathway forward for our business to run more sustainably in that country. ” Also Read: Sui Network Enables User Login via Google, Facebook, Twitch Clancy highlighted that network fees in South Korea are ten times more expensive than most other countries. Clancy added that Twitch has taken significant steps to reduce operating costs to remain in business. Is Twitch in a ditch? Source: The Verge Twitch’s troubles are nothing new. The streaming platform laid off 400 employees in March of this year, which was a move to improve its busines...