The co-founder of MySpace said he believes the popular online hangout is poised to succeed in South Korea after closely scrutinizing U.S. Internet services that have faced challenges making inroads here.

Speaking after the launch of MySpace’s Korean-language version in Seoul, Chris DeWolfe said he was confident about its prospects in a country that has proved difficult for foreign online services such as Google.

He noted the Korean-language site included the exclusive function “Minilog,” a way for Korean youths to jot down everyday thoughts and feelings in a few hundred characters. (CNN)