The Ministry of Science and ICT on Friday pledged to take strong measures against any unfair treatment that South Korean companies receive overseas, and expressed regret over the Japanese government's administrative guidance on LY Corporation to pressure domestic online giant Naver.
Second vice science minister Kang Do-hyun during a briefing at the Seoul Government Complex said the government holds the firm position that it will ensure that South Korean companies, including Naver, will be protected from any unfair treatment in overseas markets.
The second vice minister also vowed that the government will support Naver if it intends to maintain its stake and business in LY Corporation, regardless of Tokyo’s advisory that LY “readjust its holdings structure,’’ widely regarded as pressure on Naver to sell its shares of Line, a popular messenger app in Japan, to its joint partner SoftBank Group.
Regarding Tokyo’s move, Kang said that it went beyond security reinforcement measures following a data leak at Naver.
He emphasized the government's stance of respecting Naver's position and said it's waiting for the South Korean tech giant to make a decision on its mid-to-long-term business strategy.