BREAKING: Dunamu Inc. and NAVER Corp. have just announced a transformative partnership that could reshape the global K-fintech landscape. In a major press conference held at NAVER’s headquarters in Seoul, South Korea, both companies revealed a strategic integration plan, backed by an investment of KRW 10 trillion (approximately $7.5 billion) over the next five years to enhance Korea’s blockchain, Web3, and AI technology ecosystem.
The boards of both companies approved a comprehensive share-swap deal that will allow Dunamu, the operator of Upbit, Korea’s largest crypto exchange, to become part of the NAVER group. This consolidation is expected to significantly elevate their competitive edge against global fintech rivals.
During the press conference, NAVER CEO Soo Yeon Choi emphasized the urgency of this alliance, stating, “This integration comes at a pivotal moment when the mass adoption of blockchain coincides with the rise of agentic AI.” Choi added, “New opportunities are opening, and we aim to drive a new wave of innovation on the global stage.”
Dunamu Chairman Chi-hyung Song outlined the ambitious goal of jointly creating next-generation financial infrastructure that integrates AI and blockchain technologies. He stated, “We aspire to build a global platform model that transcends payments and settlements, extending to comprehensive financial services and lifestyle solutions.”
The collaboration aims to leverage NAVER’s AI capabilities alongside Dunamu’s expertise in Web3. Hae-jin Lee, NAVER’s Founder and Global Investment Officer, highlighted the strategic importance of this merger, asserting that, “For NAVER to lead the next market wave, our AI capabilities must be tightly integrated with Web3.”
CEO Kyung-seok Oh of Dunamu, who leads Upbit, stressed the deal’s potential to turn global technology shifts into opportunities for growth. “We view this as a critical inflection point, where we do not see risk but a chance for a significant leap forward,” Oh stated.
Upon completion of the deal, the combined strengths of NAVER, NAVER Financial—a leading simple-payment provider with over 34 million users and more than KRW 80 trillion in annual transaction volume—and Dunamu will be leveraged to capitalize on emerging global opportunities.
Choi also announced that the companies will prioritize creating a shared, global-first operating culture post-deal. “We will prepare aggressively to enter the global Web3 market, supported by our extensive user base, data, technology, services, and capital,” she added.
The strategic investment of KRW 10 trillion aims to enhance Korea’s technology ecosystem in AI and Web3, focusing on talent cultivation, infrastructure resilience, and support for startups. Choi noted the necessity of building this ecosystem for Korean companies to remain competitive amidst rising global players.
Oh concluded with a focus on immediate synergies post-integration, stating, “Our priority is to maximize synergies through this share swap and corporate convergence, rather than making further governance changes in the near term.”
As this groundbreaking partnership unfolds, all eyes will be on how Dunamu and NAVER’s collaboration will impact the global fintech landscape and drive the future of AI and blockchain technology.
