S. Korean gov't expresses 'regret' at Japanese pressure on Naver to sell LINE Yahoo shares and ...

S. Korean gov't expresses 'regret' at Japanese pressure on Naver to sell LINE Yahoo shares and pledges 'firm' action

과기부 "日정부 라인 지분매각 압박 유감 불이익엔 강력대응"

The South Korean government has spoken up to support domestic online platform giant Naver as it faces foreign pressure to sell its shares in LINE Yahoo.
On Friday, the Ministry of Science and ICT stated that the government "regrets" the pressure placed on Naver by the Japanese government, and that it will respond "firmly and forcefully" to any discriminatory action against South Korean firms.
After a data leak from the messaging app LINE last year, Tokyo directed its operator to review its capital relationships, leading to an attempt to reduce Naver’s control by slashing its equity.
The move has faced criticism as Naver is responsible for most of LINE’s technology, and the government pledged support for measures to strengthen information security at the company.

#economy #SouthKorea #Naver #LINE_Yahoo #messaging_app #과학기술정보통신부 #네이버 #라인 #Arirang_News #아리랑뉴스

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2024-05-10, 21:00 (KST)