Science and ICT Minister Lee Jong-ho vowed Wednesday to work closely with Naver to protect the South Korean tech giant after the Japanese government advised Japan’s Line Yahoo(LY) Corporation to decrease its capital dependence on the Korean firm.
 
Lee said that the ministry has been in close consultation with Naver, adding that its priority is helping South Korean businesses avoid unfair treatment overseas. However, the minister also said the government will be taking a cautious approach as the tech giant is involved "in a matter concerning national interests."
 
The comments come after the Japanese government issued an administrative guidance that LY,  the operator of Japan's top mobile messenger Line and internet portal Yahoo Japan, decrease its capital dependence on Naver following a string of data leaks resulting from hacking.

LY is a 50-50 joint venture between Naver and Japan's SoftBank Group.

Meanwhile, in regards to Seoul's controversial R&D budget cut, the science minister said there was a lack of communication with the science and technology community in the process of improving the efficiency of the budget. He vowed to quickly execute an increased budget for new projects this year to minimize any difficulties for researchers.