Naver Set to Confirm Dunamu Acquisition Plan at Board Meeting Soon: Here’s When

TLDR:

• Naver to acquire Dunamu through a full equity swap as both firms prepare new digital finance products.
• Both boards meet next week before the proposal proceeds to approval at a shareholders’ meeting.
• Share-swap estimates suggest a likely ratio between one to three or one to four, according to sources.
• The companies plan a won-backed stablecoin that supports broader financial services after integration.

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South Korea’s Naver is preparing to confirm its plan to acquire Dunamu, the operator of Upbit, at a board meeting next week. The move marks one of the most notable shifts in Korea’s digital finance landscape this year. 

Industry sources shared the upcoming timeline after internal discussions pointed to a full equity swap through Naver Financial. Both companies are now aligning final steps before presenting the plan to shareholders.

Naver to Acquire Dunamu and Advance Digital Finance Strategy

Naver will use Naver Financial to structure the equity swap, according to The Korea Times. The approach would make Dunamu a wholly owned subsidiary and expand Naver’s reach in digital finance. 

Sources familiar with the matter indicated that Dunamu will hold its own board meeting on November 26. They noted that the meeting will finalize procedural details ahead of the integration process.

Industry sources cited by The Korea Times expect both boards to approve the plan before it moves to a shareholders’ vote. The transaction positions Naver to integrate Upbit’s scale with its existing fintech channels. 

Upbit remains Korea’s largest exchange and one of the world’s top platforms by trading volume. The combination would give Naver deeper involvement in crypto services tied to regulated digital finance.

Market observers referenced in the report estimate the share-swap ratio at roughly one to three or one to four. The structure would shift ownership within Naver Financial once the swap is complete. 

Dunamu Chairman Song Chi-hyung is expected to become the largest shareholder. Naver would follow as the second-largest shareholder after the integration.

Stablecoin Plans and Expansion of Digital Finance Services

The two companies plan to launch a won-backed stablecoin following the acquisition. 

Sources told The Korea Times that the stablecoin will sit alongside new digital financial products. The project is intended to link Naver’s fintech ecosystem with on-chain services tied to Upbit’s infrastructure. The development signals a broader pivot toward blockchain-based settlement tools.

The companies also aim to streamline new digital finance offerings after completing the equity swap. These services may strengthen Naver’s position across payments and financial applications. 

The integration could accelerate product development inside Naver Financial. It also widens the firm’s footprint across Korea’s competitive fintech market.

Naver operates Korea’s dominant internet portal, which supports its expansion into finance. Dunamu brings trading scale and established crypto infrastructure through Upbit. Combining these strengths aligns with the strategy described in The Korea Times report. 

Both companies appear focused on building a unified framework for digital financial services.

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