It was revealed that Lee Jung-Min, president of Korea Internet Contents United (KICU), has been making money from Naver as a representative of Alliance Internet, a sales agency that has exclusive rights to Naver advertising.

On September 1, some asserted that Lee Jung-Min, president of Korea Internet Contents United (KICU), has his eyes for exclusive rights to Naver's network banner advertising market. President Lee is president of Alliance Internet, a sales agency that has exclusive rights to search advertising of 'dinosaur portal' Naver.

Kim, a venture company rep, said, "As president of KICU, Lee has been claiming to the media that Naver should make network banner advertisements. It shows that he has eyes for exclusive rights to Naver banner advertising market as well as search ad market. It's a serious moral problem that he's claiming as if he's on the side of small firms."

It was revealed that Lee hid the fact that he signed an exclusive contract with Naver's advertising unit, Naver Business Platform (NBP), to make money while supporting Naver in his capacity as an association president. AsiaToday received a report of Lee Jung-Min from venture firms after covering "Naver defender Lee Jung-Min revealed to be representative of Naver ad sales agency" back on August 30.

Kim said, "President Lee already has an exclusive rights to Naver ad sales business but he has been insisting Naver's banner ad market entrance aiming to take over the business rights to its banner ad sales business as if he was a third party."

On August 26, president Lee had an interview with a media outlet and said, "It is already impossible to revive the internet ecosystem that has lost its competitiveness by cutting Naver out of competition. The most helpful way to revive the internet ecosystem is by allowing Naver to enter the banner ad network market and to provide banner ad profits to smaller online firms."

Last year, Naver made a profit of 1.2 trillion won by its keyword search advertisement, making up two-thirds of its total internet business. Naver controls around 80 percent of the local online search market. 

Before the split of Naver and NHN Entertainment, NHN posted sales of 722.6 billion won, operating profit of 194.2 billion won, and net profit of 122,7 billion won for the second quarter of this year. Its search ads accounted for 46 percent of NHN's 2Q sales.

Regarding the issue, AsiaToday tried to call Alliance Internet and Korea Internet Contents United for several times, but couldn't reach them.