Korean super community Cyworld is launching in the US, according to PaidContent.org. The site will compete head-on with MySpace. It is very successful in Korea where a third of the population have signed up – and more than 90% of under-20s. It’s main revenue model is in selling virtual items (as in Second Life) which brings in $300,000 a day. It is making an average of $7 a user per year compared to MySpace’s $2.17.