NAVER Financial Decides to Incorporate Dunamu as a 100% Subsidiary

NAVER Financial has decided on a stock exchange to incorporate Dunamu as a wholly-owned subsidiary. This is a strategic move to secure future growth engines based on digital assets. NAVER Financial announced on the 26th that it held a board of directors meeting and decided on a comprehensive stock exchange to incorporate Dunamu as a wholly-owned subsidiary. The exchange ratio is 1 to 2.5422618, and 2.5422618 new shares of NAVER Financial will be allocated for each share of Dunamu.

Dunamu has issued 34,865,870 common shares, and is a business with total assets of KRW 15.3205 trillion, total liabilities of KRW 9.4353 trillion, and total equity of KRW 5.8851 trillion based on the most recent business year. Its main businesses are cryptocurrency trading platforms and information services. NAVER Financial aims to push for the expansion of digital asset-based businesses through this equity incorporation, and both companies plan to explore enhancing management efficiency and strengthening functional cooperation while maintaining their current businesses. The company stated, "Future restructuring plans are at the review stage, and no specific decisions have been made."

The general meeting of shareholders will be held on May 22, 2026, and the effective date of the stock exchange is scheduled for June 30 of the same year. The exercise price of the appraisal right is KRW 172,780 per share of NAVER Financial, and the related notification of objection and claim procedures will proceed in accordance with Article 360-5 of the Commercial Act. NAVER Financial and Dunamu plan to complete the stock exchange after going through licensing procedures by relevant authorities, such as business combination approval. The possibility of schedule delays or contract termination was also clearly stated through public disclosure, and the exchange schedule may change depending on future approval procedures.