Three Samsung affiliates have agreed to acquire a combined 4% stake in Dunamu, the operator of Korea's Upbit crypto exchange, for $408 million. According to reports, Samsung Securities, Samsung SDS, and Samsung Card will jointly purchase 1.39 million Dunamu shares from Kakao Investment for 612.8 billion won. The acquisition split sees Samsung Securities taking a 2% stake, while Samsung SDS and Samsung Card each acquire 1% of the company. As reported, the companies are making a sweeping move into digital assets, betting that stablecoins, blockchain finance and crypto-linked payments could reshape Korea's financial industry faster than many expected.
Dunamu operates Korea's largest crypto exchange, handling around two-thirds of South Korean spot crypto trading volume last year. As reported, this scale ranks Upbit among the world's busiest venues by turnover. The company, founded in 2012 and led by chairman Song Chi-hyung, matters far beyond Korea as any change in its ownership structure affects global market makers, custodians, and token issuers active across the region.
According to company statements, Dunamu will work with the Samsung affiliates on blockchain-based financial investment products, payment infrastructure, and AI-related blockchain services. Samsung Securities plans to strengthen cooperation with Dunamu in token securities issuance and distribution, as well as virtual asset services. Samsung SDS will combine its expertise in artificial intelligence, cloud computing, cybersecurity and data management with Dunamu's blockchain operational capabilities to strengthen its blockchain software competitiveness and expand next-generation digital finance infrastructure services for domestic financial institutions. Samsung Card aims to cooperate with Dunamu on building a payment ecosystem using digital assets, including possible integration with Monimo if won-based stablecoins are introduced in Korea.
The Samsung deal is part of a significant consolidation wave in Korea's crypto market. On May 15, Hana Financial Group's banking unit agreed to buy 2.28 million Dunamu shares for 1.003 trillion won, securing a 6.55% holding and becoming 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. A Samsung official said the investment was intended to strengthen each affiliate's competitiveness in digital asset-related businesses, with closer cooperation with Dunamu helping the companies secure leadership positions in Korea's emerging digital asset market.
The acquisition wave has significant implications for corporate restructuring in Korea's digital asset sector. As reported, the combined deals shift close to 14% of Dunamu to established Korean groups in under two weeks, with the disclosed consideration sitting above 2.2 trillion won across the entire wave of activity. Meanwhile, Kakao Investment is exiting as Dunamu prepares an all-stock merger with Naver Financial valued at 15 trillion won, cutting Kakao's stake from 10.58% to about 0.13%. A Dunamu official said the company welcomed the strategic investment and planned to cooperate with Samsung affiliates on blockchain-based financial products, payment infrastructure and AI-related blockchain services.
