South Korea's top portal operator, Naver Corp., said Wednesday it has decided to sell its entire stake in NHN Entertainment Corp., ending its corporate relationship with the affiliate that develops online games.
"Naver held a board meeting on Sept. 30 and decided to sell our entire 9.54 percent stake in NHN Entertainment to its head, Lee Joon-ho," Naver said in its press release, adding that the two will still maintain a "sound" relationship even after the sale, which is estimated at 115.8 billion won (US$109.4 million).