Seoul vows stern steps to protect Naver's business in Japan

Presidential policy chief Sung Tae-yoon gives a briefing at the presidential office in Seoul on May 13, 2024, asserting that the government will implement robust measures to safeguard South Korean businesses from any unjust or detrimental actions abroad. The announcement came amid a dispute sparked by the directive from the Japanese government to compel the divestment of Naver's stake in the operator of Line, Japan's largest messaging app. Naver, South Korea's top online portal operator, 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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