South Korea’s Biggest Internet Firm Considers Future in Japanese Messaging App
- Japan has asked Korean internet firm to lessen its influence
- LY operates Line, Japan’s most popular messaging application
Naver Corp., South Korea’s biggest internet company, is reviewing options for its holding in the operator of Japan’s most popular messaging app following pressure from Tokyo.
The company hasn’t determined its stance on its stake in LY Corp., Chief Executive Officer Choi Soo-yeon said on an earnings conference call Friday. Administrative guidance by Japan’s Ministry of Internal Affairs and Communications for Naver to reduce its holding is “quite extraordinary,” she said.