This paper explores the process of the ontology extension motivated by usage of the extended ontology for business news analysis. The main contribution of this paper is in proposing a methodology for text-driven semi-automatic ontology extension using ontology content and ontology structure information. Our research also contributes to the analysis of business news by the means of semantic technologies. The new methodology for the semiautomatic ontology extension, aggregating the elements of text mining and user-dialog approaches for ontology extension, is suggested and used for inserting the new financial knowledge into Cyc [1], which maintains one of the most extensive common-sense knowledge bases worldwide.

As the ontology content of a particular concept we consider the available textual representation of the referred concept. The ontology content includes a natural language concept denotation (such as a concept label) and textual comments about the concept. As the ontology structure of a particular concept we consider the neighborhood concepts involved in the hierarchical and non-hierarchical relations with a referred concept. Ontology extension in this paper stands for: adding new concepts to the existing ontology or, augmentation of the existing textual representation of the relevant concepts with new available textual information–extension of the concept comments, changing or adding concept denotation.