- Naver Financial merges with Dunamu to dominate South Korea’s fintech market.
- Strategic merger positions Naver Financial and Dunamu for digital asset growth.
- Upbit’s potential Nasdaq IPO sparks excitement following Naver-Dunamu merger.
Naver Financial, the fintech arm of South Korea’s tech giant Naver, has confirmed its merger with Dunamu, the operator of the nation’s largest cryptocurrency exchange, Upbit. The merger will take place through a stock-swap transaction, with Naver Financial issuing 87.56 million new shares, valued at approximately 15.13 trillion won ($10.28 billion), to acquire Dunamu. The deal is set to take effect on June 30, 2026.
This move is strategically designed to boost Naver Financial’s position within the rapidly expanding digital asset market. The share exchange ratio has been set at 2.5422618 Naver Financial shares for each share of Dunamu. While the specifics of the corporate restructuring are not fully detailed, both companies aim to enhance their strategic cooperation and functional synergies.
Also Read: Shiba Inu (SHIB) Shows Signs of Recovery, Fueling Optimism for Future Growth
Strengthening Digital Finance in South Korea
The merger aligns with Naver and Dunamu’s ambition to dominate South Korea’s growing digital finance ecosystem. This collaboration is expected to create a stronger presence in both fintech and the digital asset sector, with some reports suggesting that Upbit may eventually pursue an IPO on Nasdaq. However, no official confirmation has been made regarding this move.
Naver, founded in 1999, has become a leader in South Korea’s internet and fintech industries. In the third quarter of 2025, the company reported a revenue of 3.14 trillion won ($2.32 billion) and an operating profit of 570.6 billion won ($422.67 million). Dunamu, for its part, reported a 35% revenue increase in the third quarter, reaching 385.9 billion won ($262.87 million), along with a 145% rise in net profit to 239 billion won ($162.80 million).
This merger marks a significant step toward consolidating their strengths in the digital finance and cryptocurrency markets. It positions both companies to play a key role in shaping the future of South Korea’s digital asset landscape.
Also Read: Chen Zhi Faces International Scrutiny Amid Major Financial Fraud Scandal
