Naver–Dunamu 'digital alliance' delayed by three months...deal to close at end of September [Crypto Briefing]

[The Financial News] Naver is pushing back by three months the schedule for a comprehensive share swap between its subsidiary NAVER Financial and Dunamu, operator of the virtual asset exchange Upbit, compared with the original plan. The move is seen as an adjustment of pace to ensure the completeness of procedures such as licensing by financial authorities and revisions to laws related to virtual assets.
On the 30th, Naver announced in a regulatory filing that it would change the schedule for the comprehensive share exchange between NAVER Financial and Dunamu. According to the revised disclosure, the planned date of the shareholders' meetings for both companies has been moved from May 22 to August 18, and the final closing date for the share exchange and transfer has been postponed from June 30 to September 30, a delay of three months in each case. Naver explained, "All related procedures, including licensing, are underway, and we adjusted the schedule to ensure a more stable closing of the transaction, reflecting the status of relevant legal and regulatory revisions."
Industry observers believe the delay stems from the longer-than-expected process of refining major shareholder regulations for virtual asset service providers (VASPs) and the second-phase legislation of the General Act on Digital Assets by the financial authorities. However, the strategic partnership between the two companies is expected to remain unchanged. Their core strategy is to combine Naver's strong IT infrastructure and payment expertise with Dunamu's blockchain capabilities to gain an early lead in the global digital asset market.
Naver and Dunamu stated, "In an environment where the digital transformation of finance is accelerating, both companies strongly agree that creating synergies by combining our respective strengths is crucial to taking a leading step into the global digital asset market," adding, "We will do our utmost to ensure that the process of bringing Dunamu into the group through a comprehensive share exchange, which is the first step toward new global businesses based on digital assets, is completed without a hitch."

elikim@fnnews.com Reporter Kim Mi-hee Reporter