Despite ongoing tensions between Naver and SoftBank, LY remains committed to maintaining the Line Plus service.

Quick Summary:

Japan’s LY Corp., the operator of the country’s top mobile messenger app Line, said on Wednesday it will keep its South Korean affiliate Line Plus Corp.under its wing – a move analysts say could hurt Naver Corp.'s Asian business ex-Japan.

Naver, a Korean tech giant, is in talks with Japan’s SoftBank Corp.over the fate of their joint venture, the parent of LY, following the Japanese government’s request that Naver significantly reduce its capital control in LY.

A conflict flared up last November when Naver Cloud Corp., a unit of the Korean tech giant, suffered a cyberattack, resulting in the breach of Line users’ personal data.

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Article Details

Category: Economy

Markets: South KoreaIndonesiaJapanTaiwanThailand

Topics: Control Business Corp Naver Japan Japan’s Japanese Softbank Korean Tech Line

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-22 @ 20:19:17 (4 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 613 words

Reading Time: 4 minutes read

Sentences: 30 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 21057759

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