Samsung Units Acquire a $408 Million Stake in Upbit Operator Dunamu

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Three Samsung affiliates agreed to acquire a combined four percent stake in Dunamu, the operator of Upbit, Korea’s largest crypto exchange, for $408 million, capping a May rush by Korean financial giants. We break down the deal, the wider buying spree, and what it means for Korea’s fast-shifting digital asset market. What does the Samsung and Dunamu deal involve? Samsung Securities, Samsung SDS, and Samsung Card said on May 28 that they will jointly buy 1.39 million Dunamu shares from Kakao Investment. The total consideration reaches 612.8 billion won, roughly $408 million. According to reports, the split is clear across the three units. Samsung Securities takes a 2% stake, while Samsung SDS and Samsung Card each acquire 1%. Dunamu matters far beyond Korea. Founded in 2012 and led by chairman Song Chi-hyung, it runs an exchange that handled around two-thirds of South Korean spot crypto trading volume last year. That scale ranks Upbit among the world’s busiest venues by turnover. Any change in Dunamu’s ownership structure, therefore, affects global market makers, custodians, and token issuers active across the region. Dunamu said it will work with the Samsung affiliates on blockchain-based financial investment products, payment infrastructure, and expansion into AI using blockchain technology, according to a company statement. Follow us on X to get the latest news as it happens Why Korean Financial Giants Are Racing Into Dunamu? South Korea’s crypto market has historically run on individual investors. Banks, brokerages, and conglomerates largely held back due to regulatory caution and the absence of a clear digital asset framework. That posture is now shifting fast. On May 15, Hana Financial Group’s banking unit agreed to buy 2.28 million Dunamu shares for 1.003 trillion won, roughly $669 million, securing a 6.55% holding. The move made Hana the first Korean financial holding company to take direct equity in a crypto exchange. Five days later, Hanwha Investment Securities lifted its stake to 9.84%, spending 597.8 billion won, about $399 million. Combined, the three deals shift close to 14% of Dunamu to established Korean groups in under two weeks. The disclosed consideration sits above 2.2 trillion won across the entire wave of activity. Each buyer cited positioning for won-pegged stablecoins, tokenized securities, and on-chain settlement ahead of the Digital Asset Basic Act. Hana plans KRW-pegged stablecoins and blockchain remittance using Dunamu’s GIWA Chain, an Ethereum layer-2 network. Meanwhile, Kakao Investment is exiting as Dunamu prepares an all-stock merger with Naver Financial valued at 15 trillion won. The reshuffle cuts Kakao’s stake from 10.58% at the end of last year to about 0.13%. That removes a shareholder once seen as a potential obstacle to the merger. Both companies postponed their shareholder votes to August 18 and the closing date to September 30, citing a longer Fair Trade Commission review.

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