What is the ”Protect LINE Movement” that is showing signs of spreading in South Korea?

In response to the issue of the leak of user information on the communication app LINE, the Ministry of Internal Affairs and Communications is requesting LINE operator Yahoo to review its capital relationship with Korean company Naver, which is a major shareholder, and the "LI
It is believed that the "Protect NE" movement will spread. On the 12th, Yonhap News and other Korean media reported that the LINE app was developed by Naver's Japanese subsidiary in 2011.
Therefore, Korean people recognize LINE as a messenger developed in Korea. Naver, together with SoftBank, is a holding company of LINE and Yahoo, A Holdings.
On the 10th, Naver released a statement saying, "We are in sincere discussions with SoftBank about all possibilities, including the sale of our shares in LINE Yahoo!"
In response to this, concerns are beginning to spread in South Korea that "Japan is trying to seize LINE."
LINE was developed in 2011 by Shin Jun-ho, a developer at NHN Japan, the Japanese subsidiary of Naver.
In his home country, Shin is known as the "father of LINE." LINE is used by approximately 96 million people in Japan, and boasts approximately 200 million users in Asia, including Thailand, Taiwan, and Indonesia, and is now a social
Currently, LINE is operated by LINE Yahoo!, and SoftBank and Naver have invested 50% in A Holdings, an intermediate holding company that invests in the company.
Yahoo! Japan's LINE announced in November last year that personal information of LINE users and business partners had been leaked. A subsidiary of Naver, which shared some of its systems, was hit by a cyber attack.
The number of leaked cases is about 520,000. In response to this, the Ministry of Internal Affairs and Communications issued administrative guidance twice, in March and April of this year, to prevent recurrence.
The company has raised concerns about excessive reliance on Naver for its operations and has asked LINE and Yahoo to review their capital relationship with Naver.
On the 8th of this month, LINE Yahoo! President Takeshi Idezawa announced that he would be taking charge of the company's overall operations, including the operation of the company's internal systems and service development.
The company announced that it would end outsourcing related operations to Naver. Idezawa also explained that he has requested Naver and SoftBank to review their capital relationship. Naver also released a statement on the 10th.
"We are in good faith discussions with SoftBank, considering all possibilities, including the sale of our shares," he said. In South Korea, this series of moves has raised concerns that management rights of LINE may be handed over to Japan.
Concerns are growing. The South Korean government initially took a wait-and-see stance in response to the Ministry of Internal Affairs and Communications' urging for LINE and Yahoo to reconsider their capital relationship with Naver, but on the 10th, the Ministry of Science, Information and Communications
Kang Do-hyeon, the second vice minister of the Ministry of Foreign Affairs, expressed regret to the Japanese government, saying, "It may put pressure on Naver to sell its shares."
"If there are any unfair measures that go against our will, we will respond firmly and strongly," he said. On the 13th, Song Tae-yoon, the chief policy adviser to the South Korean presidential office, also announced his position at a press conference.
"We will provide maximum support to enable companies to make autonomous decisions overseas without any unfavorable treatment or conditions," and "we will take firm and strong action against any unfair measures that go against the will of the companies, even in the slightest way."
Meanwhile, Minister of Internal Affairs and Communications Takeaki Matsumoto said on the 10th, "The administrative guidance calls for the acceleration of a fundamental review of security governance across the entire group, including the parent company.
"It was not a request for a capital review from the perspective of management rights," he said, denying South Korea's concerns that his aim was to seize management rights.
The Korean newspaper Chosun Ilbo reported that "in the IT industry, LINE will continue to dominate Yahoo as it does now.
The general view is that it is most beneficial for Naver to maintain its position as a leader in the mobile app industry. This is because LINE will enable them to penetrate new markets not only in Japan but also in Southeast Asia and other parts of the world."
There are apparently opinions within the company such as, 'If we can't maintain our holdings, can't we at least separate the Southeast Asian business?'"
In South Korea, there is a growing voice to protect LINE's management rights, based on the recognition that "LINE is a global communication app developed by Naver."
The number of searches for the keyword "LINE" on Naver's search site has been increasing rapidly recently. According to Yonhap News, the number of searches for LINE has increased along with the growing interest in LINE.
The number of users downloading NE's app is also said to be increasing. The future moves of LINE, Yahoo!, Naver, and SoftBank are attracting attention.