I just read in the August 2006 Business 2.0 magazine about Cyworld, the Korean version of Myspace. 90% of all Koreans in their 20's are registered users of Cyworld! That's 18 million users, out of a South Korean population of 48 million.
Cyworld is a social network including 3-D rooms and avatars. $300,000 a day is being made by the web site! Guess how? Users purchase virtual items to decorate their home-pages and mini-rooms. They can choose from tens of thousands of digital items such as furniture, appliances, stereo sets, household plants, and even background music -- each purchased for less than $1 apiece.
If you are feeling a bit left out, wondering why the Koreans get to have all the fun ... never fear, Cyworld has been recently marketed for a U.S. audience.