Warning against Japan's administrative guidance on Line stake

Rep. Yoon Sang-hyun of the ruling People Power Party holds a news conference at the National Assembly in Seoul on May 13, 2024, warning that the directive from the Japanese government to compel the divestment of Naver's stake in the operator of Line, Japan's largest messaging app, would pour cold water on relations between the two nations. Naver has faced pressure from the Japanese government to "reconsider its capital ties" in LY Corp., the operator of Line, which is controlled by a joint venture between Naver of South Korea and SoftBank of Japan, following a significant data breach of user information. (Yonhap)

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