South Korea Defends Naver's Stake in Line Amid Japanese Regulatory Pressure

Seoul asserts commitment to fair treatment of its businesses abroad following Japan's demand for reduced reliance on Naver in the LY Corp joint venture.

South Korea vows to protect its companies like Naver from perceived unfair foreign pressures after Japan's regulatory guidance.
Japanese instructions to LY Corp, co-owned by Naver and SoftBank, to lessen Naver's influence followed a significant data breach.
Seoul supports Naver's decision-making autonomy in the joint venture, emphasizing national economic interests and cybersecurity enhancements.
Political tensions between South Korea and Japan resurface, affecting trade relations and corporate operations.
South Korea's technology ministry pledges robust response to any discriminatory actions against its businesses, amidst ongoing negotiations between Naver and SoftBank.