Naver (NAVER) had considered acquiring a stake in Baedal Minjok (Baemin) but has ultimately decided not to proceed with the acquisition.

On the 17th, Naver stated through a regulatory filing clarifying rumors or media reports that this was in relation to a report published by an economic newspaper on May 19. This filing constitutes a confirmation (denial) disclosure regarding that report.

The company explained, "We reviewed the acquisition of a stake in Baedal Minjok mentioned in the article, but due to changes in the business environment and other factors, we have decided not to proceed with the acquisition."

Meanwhile, Naver issued a clarification (unconfirmed) disclosure on May 19, when the report was first published, and issued another clarification (unconfirmed) disclosure on June 18.