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SME minister nominee to sell entire 2.3 billion-won stake in Naver

Published: 03 Jul. 2025, 17:51

Han Seong-sook, the nominee for minister of small and medium-sized enterprises (SMEs) and startups, speaks to reporters upon arrival at her office in Seoul on June 24. [YONHAP]

Han Seong-sook, the nominee for the minister of small and medium-sized enterprises (SMEs) and startups, has decided to sell her 2.3 billion-won ($1.69 million) stake in Naver, where she previously served as CEO, once she takes office, government sources said Thursday.

She currently holds nearly 9,000 shares in the country's largest internet company, according to the sources.

She also plans to sell shares in Hyundai Motor and Samsung Electronics held by her mother, bringing the total value of her planned divestment to 2.56 billion won.

The move comes in line with regulations requiring high-ranking government officials to sell stocks worth more than 30 million won or place them in a blind trust within two months after taking office to prevent possible conflicts of interest between public duties and personal assets.

Han is also believed to own foreign stocks in Tesla and Apple, as well as exchange-traded funds (ETFs), but those are not subject to mandatory divestment under current rules.

Han served as CEO of Naver from 2017 to 2022.

She was tapped last month to become the first minister of SMEs and startups under the Lee Jae Myung administration.

Yonhap