LINE Korea Corporation Line Plus Employee Briefing Held

Easing Employment Anxiety Amid the Line Incident

Line Plus, which is in charge of the Line business in Korea, held an internal briefing session on the 14th for employees suffering from job insecurity.

[Image source=Yonhap News]

Lee Eun-jung, CEO of Line Plus, held an online employee briefing session in the afternoon and explained the so-called 'Line incident.' During the approximately one-hour session, including a Q&A, employees reportedly asked questions about the shareholding negotiations between Naver and Japan's SoftBank, as well as employment issues. Recently, as it became known that Naver is negotiating the sale of shares of A Holdings, the major shareholder of Line Yahoo, with SoftBank, Line-related employees, including 2,500 employees of the Korean subsidiary Line Plus, expressed concerns about job insecurity.

Meanwhile, a senior official from the Presidential Office said regarding the Line Yahoo incident, "We have been continuously communicating with Naver, and the report that Line Yahoo will submit to the Japanese government will not include any content related to Naver's share sale." This is the first time the Presidential Office has directly mentioned the possibility that Naver will not sell its shares to SoftBank. Amid speculation that the Japanese government's intervention could transfer Naver's management rights of Line Yahoo to SoftBank, the Presidential Office is interpreted as effectively putting a brake on this.