South Korea's largest exchange sold for $13.6 billion, and the two founders directly became billionaires.

[Coin World] A big news has come from South Korea - Dunamu (the one that operates Upbit) is going to be acquired by Naver's fintech department.

The valuation of this entire stock transaction for Dunamu is $13.6 billion. The two founders have achieved financial freedom in an instant: Song Ji-hyung received 19% of the merged company's shares, amounting to $2.7 billion; Kim Hyung-nyeon received 10%, which also brings in $1.4 billion. These two have instantly made it onto the global rich list.

To be honest, Naver's recent move is quite impressive. They directly acquired South Korea's largest exchange through a stock swap, without spending any cash, and integrated the cryptocurrency business into their own fintech landscape. For the founder of Dunamu, although they relinquished control, their wealth has surged, and they can continue to participate in the development of the merged entity, which seems to be a win-win situation.

The landscape of the cryptocurrency market in South Korea may be reshaped.