TECH - Data Leak In Masayoshi Son's SoftBank-Backed Internet Company Causes Strain In Japan-South Korea Relations | Benzinga
A series of data breaches at a $20 billion internet company co-owned by Japan’s SoftBank Corp (OTC:SFTBY), and South Korea’s Naver (OTC:NHNCF) is causing diplomatic tensions between the two nations.
What Happened: Data leaks from Line Yahoo have led to strained relations between Japan and South Korea, Financial Times reported on Tuesday. The breaches were attributed to insecure systems at Seoul-based Naver, which co-owns the company.
Officials in Tokyo have suggested that Naver should reduce its 50% stake in A Holdings, the parent company of Line and Yahoo Japan, citing national and economic security concerns. This move could potentially allow SoftBank Corp to gain control.
Takeaki Matsumoto, Japan’s communications minister, emphasized ...