Naver Financial Delays Dunamu Share Swap by Three Months

South Korea's Naver Financial has delayed its planned share swap with Dunamu, the operator of the country's largest cryptocurrency exchange Upbit, by approximately three months, according to a regulatory filing with the Financial Supervisory Service. The company now expects to hold a shareholder vote on August 18 and complete the transaction by September 30, pushing back from original targets of late May or early June.

The deal, first reported in September 2025 and formally confirmed in a November filing, involves an all-stock transaction valued at around 10.3 billion dollars that would make Dunamu a wholly owned subsidiary of Naver Financial. This integration aims to merge Naver's established fintech services, such as Naver Pay, with Dunamu's expertise in digital assets, creating one of South Korea's most significant combinations of traditional finance and cryptocurrency operations. Established in 2012, Dunamu launched Upbit in 2017 and has expanded into related services including NFT trading, staking, blockchain infrastructure like Luniverse, and a securities information platform called Securities Plus.

The postponement stems from ongoing regulatory approvals related to...