Some initial reports and reaction to the XCOR news:
/-- XCOR Aerospace Gets First Lease Customer for Its Space Plane - WSJ
/-- The Race Is On - Transterrestrial Musings

Update: Other reports:
/-- Koreans plan space tours - Cosmic Log/msnbc.com
/-- California space tourism rocket builder [XCOR] in deal for launches from South Korea -- latimes.com/AP

I talked with Charles Lurio who has sent out a note about the news and he gave me permission to pass along some of the information here:
/-- Yecheon Astro has sent an initial payment to XCOR
/-- A "wet lease" arrangement would have US personnel from XCOR in charge of any operations and hardware that require export control limitations
/-- The Lynx Mark I, which has an altitude limit of about 60 km, is now a single vehicle prototype project and unlikely to be used for any commercial operations.
/-- Initial flights of the Mark I are expected by late 2010 or early 2011
/-- The first Mark II, which could reach to over 100km, would then fly 9-18 months later
/-- The second vehicle would follow 3-9 months after that.
/-- The second vehicle would operate at Yecheon Astro Space Center
/-- A production line would be set up if demand for vehicles warrants it.

In case you were wondering, here is info and a map for Gyeongsangbuk-do province.