Is There Room For Another MySpace.com?

Acorns, cartoon alter-egos and bubble-gum kitsch may not seem like the most intimidating weapons for a cultural invasion, but those are the tools Henry Chon is brandishing. The chief executive of Cyworld Inc. is hoping to translate the hugely popular Korean Web site Cyworld.com into a hip destination for American teens and 20-somethings.

“Once Americans see the value of Cyworld, they’ll make sure their friends and family use it,” said Chon, who keeps photos of his daughter, Chloe, on his Cyworld home page. “We’re here to build a meaningful, good community.” But as a U.S. version of the site launched August 15, critics question how an Asian company with fewer than 30 U.S. employees can compete with the likes of News Corp.’s MySpace, which has more than 100 million member profiles, and Facebook, popular with high school and college students at thousands of campuses nationwide.