Naver delays deal with Upbit operator Dunamu as review drags on
Naver Financial delayed its Dunamu share swap by about three months as antitrust and crypto law reviews continue and Upbit operator profits decline.
South Korea’s Naver Financial has pushed back the timeline for its planned share swap with Dunamu, the operator of crypto exchange Upbit, according to a regulatory filing posted on Monday.
In a filing with the Financial Supervisory Service (FSS), the company said it expects to hold a shareholder vote on Aug. 18 and complete the transaction on Sept. 30, marking a roughly three-month delay from earlier target dates of late May or early June.
Naver Financial’s plans to acquire Dunamu were first revealed in September 2025, as local news agencies Yonhap and Chosun reported the company was preparing a share swap to bring the Upbit operator under its umbrella. The company later confirmed the transaction in a Nov. 26 regulatory filing, outlining a roughly $10.3 billion all-stock deal.
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