(MENAFN) The billionaire founder of web portal operator Naver Corp beat back Google Inc. to leave South Korea one of few countries where the US search engine does not dominate, The Peninsula Qatar reported.

Now, Lee Hae-jin is stepping onto the world stage with Line, a messaging app developed by a subsidiary in Japan to overcome downed communications after the 2011 earthquake and tsunami.

"I am playing the part of an attacking winger who needs to run to break through the global market," Lee, 47, said recently.

To fund expansion and close the gap, bankers familiar with the matter said Naver is considering selling shares of Line Corp in Tokyo, New York or both. They said any initial public offering could value the subsidiary at up to USD20 billion.