Yoon's office vows to strongly respond to unfair treatment of S. Korean companies in Naver-Line dispute

By Lee Haye-ah

SEOUL, May 13 (Yonhap) — The government will respond decisively and decisively to any unfair treatment meted out to South Korean companies, the presidential office said Monday, as the Japanese government appears to be pressuring Naver to sell its stake in the Line operator. the largest messaging app in Japan.

LY, the operator of Line, is controlled by a joint venture between Naver – South Korea’s largest internet portal operator – and Japan’s SoftBank. Earlier this year, the Japanese government issued administrative directives to LY requiring it to “review its financial relationship” with Naver following a massive leak of user information, which was interpreted as pressure on the South Korean company so that it cedes control of the operator of Line.

Yoon’s office vows to strongly respond to unfair treatment of S. Korean companies in Naver-Line dispute — Presidential policy chief Sung Tae-yoon during a briefing at the presidential office in Seoul on May 13, 2024, says the government will implement robust measures to protect South Korean businesses from unfair or harmful actions abroad. The announcement comes amid a dispute sparked by the Japanese government’s directive to force Naver to divest Naver’s stake in the operator of Line, Japan’s largest messaging app. Naver, South Korea’s leading online portal operator, has faced pressure from the Japanese government to “reconsider its capital ties” with 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 breach of user data. (Yonhap)

“The government has so far consulted closely with Naver and not only verified Naver’s intentions, but worked to respond based on that,” Sung Tae-yoon, director of national policy at the presidential office, told reporters at the meeting. from a press briefing.

“In the event that Naver decides to maintain its participation and activities in LY, we will ensure that appropriate measures are taken to strengthen information security and will provide maximum support to this end,” it said.

The presidential office’s response comes as opposition parties accused the government of passively responding to an issue directly affecting South Korea’s interests, as Naver Line elaborated.

“The government plans to provide maximum support so that our companies can freely make decisions without unreasonable treatment and unfavorable conditions from abroad, and respond firmly and firmly in the event of unfair measures, even against the will of our companies,” said Sung said. said.

Sung added that the government is verifying the Japanese government’s position through diplomatic channels, including through the South Korean embassy in Japan.

He also sought bipartisan cooperation from political circles, saying: “It is clear that the political framework of some encouraging anti-Japanese sentiments harms the national interest and does not help protect our businesses and reflect our interests.” »

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