Three Samsung affiliates will jointly acquire a 4% stake in Dunamu, operator of South Korea's largest cryptocurrency exchange Upbit, from Kakao affiliates in an all-cash deal worth 612.8 billion won (~$408 million), the companies said Thursday, Korea Herald reported .
Samsung Securities will take a 2% stake, while Samsung SDS and Samsung Card will each acquire 1%, the report said. The sellers — Kakao Investment, Kakao Ventures, the Kakao Youth Entrepreneurship Fund, and the KIF–Kakao Woori Bank Technology Finance Investment Fund — are fully exiting their Dunamu holdings through the block sale.
The investment follows Hana Bank's purchase of a 6.55% stake in Dunamu for approximately $670 million earlier this month, marking the second major Korean financial institution to take a significant position in the exchange operator in recent months.
The Samsung affiliates outlined separate mandates for the investment. Samsung Securities said it plans to deepen cooperation with Dunamu on tokenized securities issuance and distribution, as well as wider virtual asset services. Samsung SDS said it would combine its capabilities in IT, AI, cloud computing, security, and data management with Dunamu's blockchain expertise to enhance blockchain software competitiveness and expand digital finance infrastructure. Samsung Card said it plans to collaborate on developing a digital asset payment ecosystem, including potential crypto-based payment services on Samsung Financial Group's Monimo platform if won-based stablecoins are introduced.
A Dunamu official welcomed the investment and said the company plans to work with Samsung affiliates on blockchain-based financial products, payment infrastructure, distribution systems, and AI-powered services.
The deals arrive ahead of South Korea's Digital Asset Basic Act, which is expected to establish a clearer regulatory framework for digital asset operators in the country. Dunamu is also undergoing a merger with Naver Financial, a process that has drawn interest from traditional financial institutions seeking exposure to the digital asset sector.
