The merger of Naver Financial and Dunamu has been formalized.
On the 26th (Korean time), according to the Financial Supervisory Service’s electronic disclosure system, Naver Financial and Dunamu are pursuing a share exchange with an exchange ratio of 1 to 2.5422618 shares. The planned exchange date is June 30, 2026.
Naver Financial’s equity value is 4.9 trillion won, and Dunamu’s equity value is 15.1 trillion won, making Dunamu about three times larger. Reflecting each company’s issued shares, the per-share value is 172,780 won for Naver Financial and 439,252 won for Dunamu, with Dunamu being 2.54 times higher.
Accordingly, Dunamu shareholders will receive 2.54 Naver Financial shares for each Dunamu share.
Naver Financial plans to make Dunamu a 100% subsidiary through this share exchange to secure future growth driven by digital assets. The shareholders’ meeting is scheduled to be held on May 22, 2026. However, the schedule may change depending on approvals from relevant authorities.
Naver Financial and Dunamu must obtain regulatory approvals such as merger approval and change-of-major-shareholder approval under the Credit Information Act, and depending on the approval results, the schedule may be delayed or the transaction may be canceled. Both companies plan to maintain their existing businesses after the share exchange while reviewing restructuring measures through functional cooperation.