USDSamsung Affiliates Take $408M Dunamu Stake
Deal deepens institutional push into Upbit operator
TL;DR
- Samsung Securities, Samsung SDS and Samsung Card agreed to buy a combined 4% stake in Dunamu.
- The transaction values the stake at 612.8 billion won, or roughly $408 million.
- The deal comes as Korean financial groups position around stablecoins, tokenized securities and blockchain infrastructure.
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Samsung Securities, Samsung SDS and Samsung Card agreed to acquire a combined 4% stake in Dunamu, the Seoul-based operator of Upbit, in a 612.8 billion won transaction worth roughly $408 million that is scheduled to close on June 19.
The three Samsung affiliates will buy approximately 1.39 million Dunamu shares from Kakao-linked funds, including Kakao Investment and Kakao Ventures. The deal values each Dunamu share at about 439,250 won and places Dunamu’s corporate valuation at roughly 15.3 trillion won, or about $11.1 billion.
Samsung Securities will take the largest portion of the investment with a 2% stake. Samsung SDS and Samsung Card will each acquire 1%. The agreement was reached May 28, according to the provided information.
Samsung units target tokenized finance and payments
Samsung Securities plans to collaborate with Dunamu on Security Token Offerings and virtual asset management services, positioning the brokerage unit for South Korea’s expected tokenized securities framework.
Samsung SDS is acquiring its stake with a focus on AI, cybersecurity and blockchain infrastructure. The technology and cloud division has already secured a key contract to build the Korea Securities Depository’s new blockchain platform, which is set for launch in 2027.
Samsung Card plans to integrate Dunamu’s crypto infrastructure into Monimo, the financial app operated by Samsung Financial Networks. The project is tied closely to future rules for South Korean won-denominated stablecoins.
Dunamu said it will work with the Samsung affiliates on blockchain-based financial investment products, payment infrastructure and AI expansion using blockchain technology. The planned cooperation places the deal around financial infrastructure, payments and tokenized markets rather than only minority equity ownership.
Dunamu was founded in 2012 and is led by chairman Song Chi-hyung. Upbit is Korea’s largest crypto exchange and handles around 80% of local crypto trading volume.
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Ownership reshuffle accelerates before Naver Financial merger
The Samsung agreement followed a rapid May reshuffling of Dunamu’s shareholder base. Hana Financial Group’s banking unit agreed on May 15 to buy 2.28 million Dunamu shares for 1.003 trillion won, or roughly $669 million, securing a 6.55% stake.
Hana’s deal made it the first Korean financial holding company to take direct equity in a crypto exchange. Hana plans KRW-pegged stablecoins and blockchain remittance services using Dunamu’s GIWA Chain, an Ethereum layer-2 network.
Hanwha Investment Securities increased its Dunamu holding to 9.84% five days after Hana’s transaction. Hanwha spent 597.8 billion won, or about $399 million, becoming one of the largest institutional shareholders outside Dunamu’s founders.
Together, the Samsung, Hana and Hanwha transactions shifted close to 14% of Dunamu into the hands of established Korean corporate and financial groups in under two weeks. Disclosed consideration across the wave exceeded 2.2 trillion won.
Kakao Investment is exiting as Dunamu prepares an all-stock merger with Naver Financial valued at 15 trillion won. Kakao’s stake is being reduced from 10.58% at the end of last year to about 0.13%, removing a shareholder previously viewed as a potential obstacle to the merger.
Dunamu and Naver Financial postponed their shareholder votes to August 18 and moved the expected closing date to September 30, citing a longer Fair Trade Commission review. Kakao has been gradually reducing its Dunamu exposure, with local media reports indicating it has sold assets worth nearly $1.5 billion in recent weeks.
Dunamu reported 708.8 billion won in net profit on revenue of 1.56 trillion won for 2025. The company’s earnings, Upbit’s local market position and the planned Naver Financial merger frame the recent share purchases by Samsung, Hana and Hanwha as part of a broader institutional move into regulated digital-asset infrastructure.
FAQ
Who is buying Dunamu shares?
Samsung Securities, Samsung SDS and Samsung Card are buying a combined stake.
Who operates Upbit?
Dunamu operates Upbit.
When is the Samsung transaction expected to close?
The transaction is scheduled to close on June 19.
What businesses are tied to the deal?
Tokenized securities, payment infrastructure, stablecoins, AI and blockchain infrastructure are tied to the planned cooperation.
This article has been refined and enhanced by ChatGPT.
