Naver Financial Delays Dunamu Deal Due to Regulatory Uncertainty

Naver Financial's plans for a share swap with Dunamu, the parent company of crypto exchange Upbit, have been pushed back to September due to regulatory uncertainty.

The deal was initially expected to be completed in late May or early June but has now been delayed by nearly three months. A shareholder vote is scheduled for August 18th, and if approved, the transaction will be finalized on September 30th.

The delay is largely due to the need for multiple regulatory approvals tied to changes in major shareholding and business combination review. The Digital Asset Basic Act, a proposed legislation that aims to regulate the digital asset sector, may also impact the deal's timeline.