Kakao Investment announced it is selling a 6.55% stake in Dunamu, operator of Korea’s largest crypto exchange Upbit, to Hana Bank for approximately 1 trillion won ($670 million) [1, 2]. After the sale, Kakao’s stake in Dunamu will shrink from 10.58% to 4.03% [1]. Hana Bank will become the fourth largest shareholder in the crypto exchange operator [2].
Kakao first invested in Dunamu in 2013 when the company was a news aggregator. It has since supported Dunamu’s pivot into fintech and cryptocurrency exchange services [1]. Kakao said the share sale is aimed at "securing funds for future investments," signaling a focus on funding new ventures [1]. Hana Bank stated its investment goal is to "secure competitiveness in new finance," with plans to expand into the digital asset space [1].
Dunamu recently announced a merger with Naver’s payment arm, with the combined entity valued at $13.6 billion. This deal is expected to close in June 2026, the same timeframe as Kakao’s stake sale completion [1]. The sale and merger both point to strategic repositioning in Korea’s growing fintech and crypto industries.
The deal is expected to close around mid-June 2026 [1, 2]. Hana Bank plans to finalize its purchase of the 6.55% stake by June 15, 2026, according to a timeline report [2].
