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Naver renews fintech push as Yahoo-Line merger lightens load

South Korean internet company branches out to securities trading and insurance

Naver plans to roll out new financial services next year beyond its e-payment platform, NaverPay. (Photo courtesy of the company)

SEOUL -- South Korea's Naver is expanding efforts to extend its online empire into financial services, as the proposed merger between Line and Yahoo Japan frees up resources to pour into the growing field.

Line, a chat app in which Naver holds a 73% stake, has struggled to turn a profit in recent years. But the merger would minimize Line's effect on Naver's overall balance sheet, letting the South Korean internet giant focus on new avenues for growth.

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