Yoo Seung-min on Line Yahoo Incident: "President Yoon Should Step In Personally Instead of a Mere Vice Minister"

"Government Must Actively Protect Corporate Overseas Investments"
"Ito Descendant's Remarks Are Pathetic," Lee Jae-myung Also Criticizes

Former People Power Party lawmaker Yoo Seung-min argued on the 13th that "President Yoon Suk-yeol and the Ministry of Foreign Affairs should step in to protect our companies' overseas investments" regarding the Line-Yahoo shareholding restructuring crisis triggered by the Japanese government's administrative guidance. Yoo emphasized on his Facebook that "the core of the issue is that the Japanese government exerted pressure through administrative guidance to 'reexamine capital relations,' and as a result, Line, Yahoo, and SoftBank swiftly took away Naver's shares, but our government has failed to stop this situation."

Former People Power Party lawmaker Yoo Seung-min argued on the 13th that "President Yoon Suk-yeol and the Ministry of Foreign Affairs should step in to protect our companies' overseas investments" regarding the Line Yahoo shareholding restructuring crisis triggered by the Japanese government's administrative guidance.
[Photo by Yonhap News]

In particular, Yoo said, "This is an anti-market measure by the Japanese government that violates global standards and breaches the Korea-Japan Investment Agreement, so our government should have strongly stopped it earlier. However, our government hid behind the excuse that 'the government can only act once Naver clarifies its position' and shifted responsibility onto Naver."

He continued, "Our government should now clearly demand that 'we oppose the share sale initiated by pressure from the Japanese government. The Japanese government must withdraw the administrative guidance ordering the reexamination of capital relations.' Instead of pressuring Naver to clarify its position, the government should pressure the Japanese government to withdraw the order to reexamine capital relations," he added.

Additionally, Yoo criticized the Democratic Party leader Lee Jae-myung’s Facebook post stating, "Ito Hirobumi invaded Joseon territory, and Ito Hirobumi’s grandson is invading the Republic of Korea’s cyber territory, Line." Yoo said, "Is whether he is Ito Hirobumi’s great-grandson the core of this issue? It is truly an absurd and pathetic idea," and pointed out, "Populism that only stirs emotions by saying 'you are bad because you are a descendant of a bad ancestor' without approaching the issue logically and rationally will solve nothing in the Line crisis."

This content was produced with the assistance of AI translation services.