Core Viewpoint - Naver Financial has agreed to acquire Dunamu, operator of Upbit, South Korea's largest cryptocurrency exchange, in an all-stock deal valued at 15.13 trillion won ($10.27 billion) to secure future growth in digital assets [1][2]. Group 1: Acquisition Details - The acquisition involves Naver's fintech subsidiary issuing 2.54 shares for every one share of Dunamu [2]. - This deal is one of the largest in Asia for the year and aims to enhance Naver's growth in the booming cryptocurrency market [1][2]. Group 2: Market Position and Synergy - Upbit holds approximately 70% market share in South Korea's cryptocurrency exchange market and is highly profitable [3]. - Naver is expected to leverage its user traffic to drive engagement with Upbit, targeting primarily the younger generation [3]. Group 3: Market Reaction and Future Plans - Following the acquisition announcement, Naver's shares initially rose by over 7% but later fell by 4.2% due to concerns over a significant cryptocurrency withdrawal from Upbit [4][5]. - Naver's CEO indicated that there are no immediate plans for a Nasdaq listing, emphasizing a focus on enhancing shareholder value if such a decision is made in the future [4].

Investment & Strategy - Naver 和 Upbit 母公司 Dunamu 计划未来五年投资 10 万亿韩元（约 68 亿美元）用于构建下一代金融基础设施，利用 AI 和区块链技术 [1] - Dunamu 总裁 Oh Kyung-seok 表示，两家公司还将致力于发行与韩元挂钩的稳定币 [1]

Naver and Upbit to pour $7 billion into AI, blockchain following mega-merger: reports https://t.co/vxQwJ3pu3z ...

Group 1 - The Ministry of Commerce of China and the European Commission discussed semiconductor supply chain issues, emphasizing the need for constructive communication between ASML Netherlands and ASML China to stabilize the global semiconductor supply chain [2] - Vanke faced a significant decline in both stock and bond markets, with some bonds dropping over 35% and the stock price nearing historical lows, prompting a meeting regarding bond extension [2] - The Chinese government instructed domestic airlines to reduce flights to Japan before March 2026, reflecting ongoing diplomatic tensions [3] Group 2 - Six departments in China released a plan to enhance the adaptability of consumer goods supply and demand, aiming for a significant optimization of the supply structure by 2027 [3] - The National Development and Reform Commission announced a new management method for credit repair, effective from April 2026, categorizing dishonest information into three levels [3] - The A-share market saw fluctuations, with the Shanghai Composite Index closing down 0.15%, while the Shenzhen Component Index and the ChiNext Index recorded gains [4] Group 3 - Li Auto reported a 36.2% year-on-year decline in Q3 revenue, with an adjusted net loss of 360 million yuan, and projected a further decline in Q4 revenue [5] - The insurance sector welcomed new funds into long-term investment trials, with a new private equity fund entering operation [4] - The Chinese Nonferrous Metals Industry Association opposed the zero or negative processing fees in the copper smelting industry, calling for better management of copper smelting capacity [8] Group 4 - The medical device market in China is expected to reach 1.22 trillion yuan by 2025, with a significant increase in the number of production enterprises [9] - The financial support plan in Guangdong aims to facilitate industry chain integration and improve the quality of listed companies [8] - The Hong Kong stock market saw a net sell-off of 39.52 billion HKD by southbound funds, with notable movements in major tech stocks [4]

The pending merger, between Upbit owner Dunamu and payments giant Naver, is reportedly focused on the booming stablecoin sector. https://t.co/PhBAIbsKO6 ...

Naver said the deal would help it “secure future growth engines based on digital assets” https://t.co/bPc3a0AVie ...

Core Insights - KakaoBank is developing a KRW-pegged stablecoin named "Kakao Coin" and has entered the development phase [1] - The company is recruiting blockchain service backend developers to enhance its blockchain infrastructure and stablecoin technology [2][3] - KakaoBank is also planning a security token offering (STO) and has partnered with Korea Investment & Securities and Lucent Block for this initiative [4] Group 1: Stablecoin Development - KakaoBank is establishing blockchain infrastructure for its stablecoin and has opened recruitment for developers with expertise in smart contracts and token standards [1][2] - The stablecoin initiative aligns with South Korea's broader push for a KRW-pegged coin to facilitate business and international trade [6] Group 2: Market Context and Competition - The stablecoin market in South Korea is gaining momentum, with KakaoBank entering the space shortly after Naver announced its own local stablecoin wallet service [7] - The financial industry in South Korea anticipates that the security token offerings (STO) market could reach a valuation of $287 billion by 2030 [5]

Photo by BeInCrypto Kakao Bank has reportedly shifted to active stablecoin development under founder Kim Beom-soo, while Naver is finalizing a merger with Dunamu, the operator of Upbit, South Korea's largest crypto exchange. These moves come as lawmakers push forward stablecoin bills that could reshape the country's digital financial landscape. Kakao Accelerates Stablecoin Development According to a local media report, Kakao Bank is building blockchain infrastructure for its planned stablecoin, "Kakao ...

LATEST: ⚡ Dunamu, the parent company of South Korean crypto exchange Upbit, is reportedly planning a US IPO on the Nasdaq after merging with tech company Naver, according to a report from Seoul Economic Daily. https://t.co/YfKp1fMOZ1 ...

Core Insights - Naver is moving closer to acquiring Upbit, South Korea's largest crypto exchange, with board meetings scheduled for November 26 to confirm a stock swap deal with Dunamu, the operator of Upbit [1][2] Company Developments - Naver's founder and chair, Lee Hae-jin, will explain the merger plan at the board meeting and hold a press conference on November 27, alongside Dunamu CEO Song Chi-hyung [2] - The merger details, first revealed in September, indicate that Naver, with a market cap of $39.2 billion, will gain control of Dunamu [2] Financial Details - Upbit's trading volumes exceeded $2 billion in the past 24 hours, indicating significant market activity [3] - The merger will involve a stock swap where Dunamu shareholders will exchange their shares for newly issued Naver Financial shares at a ratio of 1:3, resulting in Dunamu becoming a wholly owned subsidiary of Naver Financial [4][5] Regulatory Environment - Regulatory challenges may arise as South Korean lawmakers have raised concerns about Upbit's dominant position in the crypto market, with Upbit holding a 71.6% share of total domestic crypto trading volumes in the first half of 2026 [6]