Naver to Acquire Dunamu? (Operator of Upbit - Largest Cryptocurrency Exchange in Korea)
[Naver - Bullish]
According to numerous local media, Naver Corp (035420 KS) is set to acquire Dunamu, the operator of Upbit which is the largest cryptocurrency exchange in Korea.
According to Naver Corp (035420 KS), its subsidiary, Naver Financial, is discussing various collaborations with Dunamu, including stablecoins and potential stock exchange. However, nothing has been finalized so far.
If Dunamu is valued at 15 trillion won, this would suggest a P/E of 18x based on 2025 annualized net profit of 836 billion won (net profit in 1H25 annualized).
