LY Corp is owned 50/50 by Naver and Softbank. It started as a reskin of Naver Talk, and the product development has effectively been done in Korea throughout the years. They've intentionally marketed it as being a Japanese app/company to assauge the Japanese government, as unlike in the West, East-Asian governments understand that an app that the entire nation has come to rely is a critical piece of infra that needs to be in national hands. But this has not reflected the reality.
This strategy of pretending to be a Japanese app has worked for a decade but now seems to be coming to an end, with the JP government looking to force Softbank to somehow broker a deal with Naver to reduce their share to less than 50%.
The EU should do similar with Whatsapp.