Presidential Office Says Naver Will Not Sell Its Stake in Line Mobile Messaging App
Due to outside pressure the Yoon administration is now having to provide public updates on what they had previously been handling quiety with the Naver issue and Japan:
The presidential office said Tuesday a report set to be filed with the Japanese government by LY Corp. will not include plans for stake sales by the South Korean portal giant Naver Corp.
Naver has been under pressure from the Japanese government to “review its capital relationship” in LY Corp., the operator of Line controlled by a joint venture between Naver and SoftBank of Japan, over a massive data leak of user information.
“We have been communicating with Naver, and LY’s report set to be submitted to the Japanese government will not include plans for Naver selling stakes,” a high-ranking presidential official said over the phone.
“The Japanese government should not disadvantage Naver because the report did not include a stake sales plan,” the official added.
It marked the first time for the presidential office to directly address the possibility that Naver would not sell its stakes to SoftBank.
Yonhap
You can read more at the link, but to sum this whole issue up, the Japanese government was unhappy with the massive data leak Naver’s Line app had. The Japanese government then pressured Naver to improve cyber security or consider selling Line to someone who will. The Korean left predictably decided to turn this into a anti-Japan issue, which now has caused the Yoon administration to make public statements instead of trying to handle this issue quietly with the Japanese government.
By the way the Japanese government never even issued any formal guidance to sell Line:
Sung noted the Japanese government has stated several times there was no mention of a stake sale in the administrative guidance it issued to LY, Line’s operator, earlier this year, nor any reference to control of the company.
Once again this is a cyber security issue. Naver needs to fix the cyber security for their Line app and then the Japanese government will leave them alone. Did I miss anything?
Due to outside pressure the Yoon administration is now having to provide public updates on what they had previously been handling quiety with the Naver issue and Japan:
Do you have any proof that Yoon was handling it quietly or is it another of your attempts to whitewash this situation?
You do realize that Yoon is under fire for not communicating with the people. Then shouldn’t Yoon communicate his intentions to the people?
Did I miss anything?
Yes you did.
https://ajw-origin.potaufeu.asahi.com/ajw/articles/15189437
The ministry concluded that the company’s strong dependence on the South Korean information giant Naver, a major shareholder of LY, contributed to the information leakages.
It said a “considerable dominant relationship in organization and capital” with Naver made it difficult for Line to keep personal information safe and secure.
The ministry called on LY to consider reviewing its management structure, including its capital relationship, to enhance effectiveness of data security measures and prevent a recurrence.
https://ajw-origin.potaufeu.asahi.com/ajw/articles/15260714
At the May 8 news conference, Idezawa said LY is “strongly” requesting Naver reconsider the capital affiliation.
A representative of Naver has argued that the communications ministry’s administrative guidance calling for reducing its capital grip over LY is “extremely unusual.”
LY, which has three representative directors, also announced May 8 that Jungho Shin, who is dubbed the creator of the Line app, will resign as representative director in June.
Shin, originally from Naver, will stay in his current position as chief product officer.
After he resigns, LY’s representative directors will be Idezawa and Chairman Kentaro Kawabe.
Did I miss anything?
Yes you did.
https://ajw-origin.potaufeu.asahi.com/ajw/articles/15189437
The ministry concluded that the company’s strong dependence on the South Korean information giant Naver, a major shareholder of LY, contributed to the information leakages.
It said a “considerable dominant relationship in organization and capital” with Naver made it difficult for Line to keep personal information safe and secure.
The ministry called on LY to consider reviewing its management structure, including its capital relationship, to enhance effectiveness of data security measures and prevent a recurrence.
Since @GIKorea is no expert on Asian affairs, he failed to read between the lines of the Japanese government directive which concluded that Naver’s shareholding limited Line’s ability to protect itself from cyberattacks.
Thus the conclusion was to reduce Naver’s capital relationship which meant Naver selling off its shares.
Of course the Japanese government has deniability because they can say what they want to say and leave the words in a vague way so they can deny what they just said.
Personally I think @GIKorea is pretending otherwise because he wants to make Yoon look good and it will not fit his narrative if he says the obvious.
“Secretive Yoon should communicate every action to the people.”
“Loudmouth Yoon should resolve things is a quiet and diplomatic way.”
Takeaway: You will never win with lefttards looking to destroy what they cannot create. Just make fun of them. In fact, the less influence on your actions you allow idiots in general, the more relaxed and successful you will be. Their influence is intended to disrupt, not to improve.
Protip: Get them worked up. They always take the bait.
“Racist!”
“Whatever you say, chink¹.”
¹Chink is a nationalist slur and, of all Asians, only applies to Chinese, which is a nationality and not a race. But you can get the smoothbrain losers going on this every time, as it is easiest to blame their failure on your imaginary racism.
Isn’t that right, chink?