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According to MMOCulture.com, Trion Worlds is shutting Rift's Korean service down on April 25th. According to the report, Rift could not keep pace with Diablo III and Blade & Soul enough to make a profitable inroad into the Korean market.
The MMOCulture site is down, doubtless due to server overload, but you can check it out later.
We have reached out to Trion Worlds for comment and will report back any further news.