USERS KNOW BEST: Although they are not Line’s biggest user base, Taiwanese understand its services, making Taiwan an ideal location to test new services, the firm said
Date: May 09, 2019
By: Kao Shih-ching / Staff reporter
Over next three years, Line Corp plans to invest NT$3 billion (US$97.02 million) in Taiwan, as it aims to expand into areas such as financial technology, e-commerce and digital content, co-CEO Jungho Shin told a news conference in Taipei yesterday.
It would be another significant investment in Taiwan for the Tokyo-based firm after its subsidiary, Line Financial Corp, invested NT$4.82 billion in Line Financial Taiwan Corp (台灣連線金融科技) in March in a bid to launch the Web-only Line Bank in Taiwan.
Line Financial Taiwan holds a 49.9 percent stake in Line Bank, which would cost the firm NT$4.99 billion if the Financial Supervisory Commission (FSC) grants it the license later this year.
“The Taiwanese market is a great investment environment, as people embrace new technologies and there are many talented people who can help us develop digital innovations,” Shin said. [FULL STORY]