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The United Daily News Group, Taiwan's largest Chinese-language publishing group, today spun off its 24-hour Internet news service, udnnews.com, into an independent company, udn.com.

udn.com, which has an initial capitalization of NT$150 (US$4.9 million), is set to launch a financial news service, udnmoney.com, and a human resources Web site, udnjob.com, before the end of this month.

udnjob.com, which aims to serve Chinese people around the world, will be entering a market currently dominated by 104 Job Bank, a Taipei-based Web site that has attracted almost 19 million page views since its inception at the beginning of 1998.

United Daily News Group managers say they anticipate that the financial news site and the jobs site will also become independent companies in due course.

udnnews.com was launched in September 1999, and is now one of the world's 100 most popular sites, according to 100hot.com. Page views average 1.2 million each day.

The United Daily News Group is also the parent company of China Economic News Service, a long-established provider of English language business news.

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