TREE NEWS update: Dunamu, the parent of South Korean crypto exchange Upbit, has pushed back its full share swap with NAVER Financial from December 31 this year to March 31, 2027, with an extraordinary shareholders’ meeting also moved from November 19 to February 26. The swap ratio stays unchanged at 2.5422618 NAVER Financial shares per Dunamu share. After completion, NAVER Financial will become Dunamu’s wholly owned parent, with Dunamu its wholly owned subsidiary.
Upbit Parent Dunamu Delays NAVER Financial Share Swap to March 2027
The delay matters less for the ratio, which is untouched, than for what it signals about the pace of consolidating a major Korean exchange under a large internet group. Pushing both the swap and the shareholder vote out by more than a year, with the meeting itself moved from November to late February, suggests the process is being sequenced rather than abandoned. The open question is whether the timeline holds and what regulatory or internal steps sit between now and the new date.
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