The head of the company operating the Line messenger app, which is jointly owned by Naver and SoftBank of Japan, recently met with Naver employees to address concerns about job security amid pressure from the Japanese government for Naver to sell its stake in Line. The meeting, attended by Takeshi Idezawa, president of LY Corp., was held in response to pressure for Naver to reconsider its capital relationship in LY Corp. following a significant data leak of user information. Both Naver and SoftBank have confirmed discussions about a potential sale of their stake in LY Corp, with Naver expressing openness to all possibilities in response to the Japanese government's administrative guidance. During the meeting, Idezawa assured Line Plus employees, who support the app's global business, that their employment would be guaranteed. In a separate development, South Korea's presidential office has expressed opposition to any unfavorable action by the Japanese government against Naver over concerns about data security. This statement comes as the Japanese government continues to exert pressure on Naver regarding its stake in Line, reflecting the complex and sensitive nature of the situation.
The head of the company operating the Line messenger app, which is jointly owned by Naver and SoftBank of Japan, recently met with Naver employees to address concerns about job security amid pressure from the Japanese government for Naver to sell its stake in Line. The meeting, attended by Takeshi Idezawa, president of LY Corp., was held in response to pressure for Naver to reconsider its capital relationship in LY Corp. following a significant data leak of user information. Both Naver and SoftBank have confirmed discussions about a potential sale of their stake in LY Corp, with Naver expressing openness to all possibilities in response to the Japanese government's administrative guidance. During the meeting, Idezawa assured Line Plus employees, who support the app's global business, that their employment would be guaranteed. In a separate development, South Korea's presidential office has expressed opposition to any unfavorable action by the Japanese government against Naver over concerns about data security. This statement comes as the Japanese government continues to exert pressure on Naver regarding its stake in Line, reflecting the complex and sensitive nature of the situation.