Upbit operator merges with South Korean tech giant Naver this week

2025-11-24 01:44:52

Abstract generation in progress

Naver Financial and Dunamu—the company operating the Upbit exchange—are preparing to merge, with board approval on November 26 and an official announcement on November 27. The deal will be executed through a stock swap, making Dunamu a subsidiary of Naver Financial. Based on current valuations, Naver Financial is worth about KRW 5 trillion and Dunamu about KRW 15 trillion, suggesting a swap ratio of 1:3. Dunamu shareholders are expected to hold nearly 30% of the merged company, while Naver’s ownership will decrease to 17% but will retain operational control.

The deal aims to combine Naver’s payment strengths with Upbit’s leading position in the cryptocurrency market, with the goal of building a comprehensive financial ecosystem. However, the FSS and FTC will closely review systemic risks, shareholder interests, and market competition, with the approval process expected to take several months.

XEM1.91%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.