Second Vice Minister of Foreign Affairs meets with the Japanese Ambassador to Korea regarding Line Yahoo
- Exchange of opinions on the Japanese government's administrative guidance for Line Yahoo, etc.
- Request for Japan's interest and caution to avoid external pressure on Naver
Editor
On the 17th, Second Vice Minister of Foreign Affairs Kang In-seon had a meeting with Taisuke Mibae, Chief Attaché of the Japanese Embassy in Korea (Acting Ambassador), and exchanged opinions on ways to promote Korea-Japan economic cooperation and the Japanese government's administrative guidance for Line Yahoo.
Regarding the Japanese government's administrative guidance for Line Yahoo, Vice Minister Kang reiterated the Korean government's firm position that there should be no unfair discriminatory measures against Korean companies conducting economic activities in Japan and that Naver will be able to operate without any adverse disposition or external pressure. He requested special attention and caution from the Japanese government to enable fair and autonomous decision-making.
In addition, the two sides exchanged opinions on ways to promote substantive cooperation in the economic field of the two countries and will continue to build a future-oriented cooperative relationship based on mutual trust, including holding the 'Korea-Japan High-Level Economic Consultation', which resumed last year after a hiatus of eight years, within the year. We decided to communicate closely for further development.
Line Yahoo is a company that services Japan's national messenger 'Line' developed by Naver and the largest portal site 'Yahoo' operated by Softbank.
Previously, Naver founder and global investment officer (GIO) Lee Hae-jin completed the management integration of Japanese subsidiary Line and Japan's Z Holdings with Yahoo Japan in March 2021. Naver and Softbank also launched Line Yahoo's holding company, A Holdings, and each owns a 50% stake.
However, when 510,000 pieces of Line's personal information were leaked in November last year, Japan's Ministry of Internal Affairs and Communications ordered two rounds of administrative guidance, including a review of the capital relationship with Naver and measures to prevent the recurrence of the incident.
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