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Naver’s involvement

Line app developer Shin to step down from board of Japan's LY
AppWizard
May 10, 2024

Line app developer Shin to step down from board of Japan’s LY

- Shin Jung-ho, the Korean executive at LY, the company behind Line app, is resigning from his position on the board. - Naver and SoftBank are in discussions about a possible revision of their ownership stakes in LY. - SoftBank is contemplating various options to enhance its stake in LY. - LY is enhancing its security measures in response to a cyberattack on Naver Cloud. - The Japanese government's push to reduce Naver's involvement in LY has been met with criticism in Korea.
Korea-Japan diplomatic feud looms large over Naver's Line messenger app
AppWizard
April 28, 2024

Korea-Japan diplomatic feud looms large over Naver’s Line messenger app

The Japanese government is seeking to diminish Naver's involvement in the management of the Line mobile messenger app due to concerns over a data breach and financial influence. SoftBank is in discussions with Naver to potentially purchase a portion of Naver's stake in LY Corp, raising fears that Naver may lose its control over Line. Korean officials are committed to engaging with Naver to address the situation and prevent further escalation. Naver has not commented on the matter, but LY Corp has requested Naver to reassess their partnership.
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