Naver, South Korea's leading portal site, is set to confirm its acquisition of Dunamu, the operator of the country's largest cryptocurrency exchange, Upbit. The decision is expected to be finalized at a board meeting next week, according to sources cited by the Korea Times. Dunamu will also hold a board meeting on November 26th to finalize the acquisition details.
The acquisition will involve a full share swap through Naver's fintech arm, Naver Financial, effectively making Dunamu a wholly-owned subsidiary. This strategic move aims to bolster Naver's presence in the digital finance sector.
Naver to Confirm Acquisition of Upbit's Parent Company Dunamu
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