first unveiled in September<\/a>, will see Naver, which has a market cap of $39.2 billion, take control of Dumau.<\/p>\nUpbit\u2019s trading volumes over the past 24 hours were worth over $2 billion, Coingecko data shows.<\/p>\n
Naver-Dunamu merger roadmap <\/p>\n
Lee will reportedly unveil a \u201cmerger roadmap\u201d to the board, which he is likely to make public at the press conference.<\/p>\n
The Naver board meeting appears to have been hurriedly arranged. Yonhap\u2019s sources said it will \u201cbe held in a hybrid format, with some members joining in-person and others attending via video conferencing apps.\u201d<\/p>\n
Yonhap and other South Korean media outlets have confirmed that the merger between the two companies will involve a stock swap.<\/p>\n
This will see Dunamu shareholders exchange their existing shares for newly issued Naver Financial shares at an exchange ratio of 1:3.<\/p>\n
That means Dumanu shareholders are set to receive thee Naver Financial shares for every Dunamu share they own.<\/p>\n
Naver\u2019s ownership stake in Naver Financial is currently 69%. The merger deal would see that stake diluted to around 17%, with Dunamu becoming a wholly owned Naver Financial subsidiary.<\/p>\n
However, regulatory red tape still poses a potential obstacle to the deal. South Korean lawmakers have accused Upbit of operating a de facto monopoly in the domestic crypto market.<\/p>\n
Upbit is one of only five exchanges in the country with a license that permits Korean won-crypto pairings.<\/p>\n
In October, the South Korean newspaper Seoul Kyungjae wrote that the domestic crypto market has \u201ceffectively solidified into an Upbit monopoly.\u201d<\/p>\n
According to the South Korean financial regulator, the Financial Supervisory Service, Upbit\u2019s share of total domestic crypto trading volumes in the first half of 2026 was 71.6%.<\/p>\n
Naver Financial\u2019s flagship service is Naver Pay, South Korea\u2019s biggest digital payment platform. The firm also operates asset management and lending services for retail and business users.<\/p>\n
Tim Alper is a news correspondent at DL News. Got a tip? Email at tdalper@dlnews.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Naver, South Korea\u2019s answer to Google, has moved closer to a deal that will see it snap up…\n","protected":false},"author":2,"featured_media":8265,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[623],"tags":[5158,657,6441,33,2818,5220],"class_list":{"0":"post-8264","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-naver","8":"tag-crypto-exchange","9":"tag-naver","10":"tag-naver-financial","11":"tag-south-korea","12":"tag-upbit","13":"tag-yonhap"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/8264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=8264"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/8264\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/8265"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=8264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=8264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=8264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}