Seoul – The South Korean presidential office urged the Japanese government not to take unfavorable action against Naver, a leading South Korean tech company, provided it addresses concerns related to data security.
According to Yonhap News Agency, director of national policy, Naver has been under pressure from Japan to divest its stake in Line Corporation, operator of Japan’s largest messaging app, following a significant user data leak last year. Sung emphasized that if Naver proposes adequate measures to bolster data security, the Japanese government should refrain from any actions that could affect Naver’s ownership structure.
Sung noted that the Japanese government has previously indicated that its administrative guidance to Line’s operator, LY, did not demand a stake sale nor did it suggest altering control of the company. The guidance instead advised LY to “review its capital relationship” with Naver. He assured that the South Korean government would support Naver, offering technical and administrative assistance, and vowed to protect South Korean companies from discriminatory actions or unfair treatment abroad.