Overview

• Multiple outlets report a comprehensive share swap that would make Dunamu a wholly owned Naver Financial subsidiary, with board approvals expected soon according to sources.
• Naver and Dunamu filed statements saying they are discussing a stock swap and other collaborations but that no decision has been finalized.
• Naver Corp. shares jumped 11.4% to close at 254,000 won after the reports, outpacing a flat KOSPI.
• Reports describe Naver Financial issuing new shares to Dunamu’s existing investors in exchange for their stakes, pending board and regulatory processes.
• Upbit, operated by Dunamu, is South Korea’s largest crypto exchange and ranks among the world’s top by trading volume, and prior collaborations include work on a KRW‑backed stablecoin and unlisted‑stock services.