What happened between Kakao and Dunamu?

Kakao sold a 6.55% stake in South Korean crypto exchange operator Dunamu to Hana Bank for about 1 trillion won ($670 million). After the deal closes in June, Kakao’s ownership in Dunamu will fall to 4.03% from 10.58%.

Why is Kakao selling part of its Dunamu stake?

Kakao said the sale is intended to “secure funds for future investments.” The move suggests Kakao may want more liquidity to invest in other growth areas while still keeping a smaller stake in Dunamu.

Why is Hana Bank investing in Dunamu?

Hana Bank said the investment will help it “secure competitiveness in new finance.” The bank has been expanding into digital assets and stablecoin-related services as traditional Korean financial firms push deeper into crypto and fintech.

Why does this deal matter for the South Korean crypto market?

The transaction shows major Korean banks are becoming more comfortable with regulated crypto exposure. Hana Bank buying into Dunamu, which operates Upbit, could signal stronger links between traditional finance and crypto platforms in South Korea.

What is Dunamu and why is it important?

Dunamu is the operator of Upbit, South Korea’s largest crypto exchange by daily trading volume. The company started as a news aggregator in 2012 before pivoting into fintech and crypto, becoming one of Korea’s most influential digital finance firms.

How could this news affect Kakao investors short term?

Investors may view the sale positively because Kakao is unlocking $670 million in cash for future investments. However, some traders could see the reduced ownership in Dunamu as Kakao lowering exposure to one of Korea’s strongest crypto-related businesses.

How could this news affect Dunamu and Upbit long term?

The deal could strengthen Dunamu’s institutional credibility because Hana Bank is a major traditional financial player. Closer ties with banks may help Upbit expand payment, custody, or regulated crypto-finance services in South Korea over time.

What is the significance of Dunamu’s merger with Naver’s payments unit?

Dunamu’s planned merger with Naver’s payments business values the combined entity at about $13.6 billion. The merger is designed to create a broader fintech platform spanning payments, insurance, securities trading and crypto services.

Kakao sells $670M Dunamu stake

Written by Brie CarterPublished May. 15 2026

South Korean internet giant Kakao will sell a 6.55% stake in crypto exchange operator Dunamu to Hana Bank in a deal valued at 1 trillion won ($670 million).

Kakao said the transaction will reduce its ownership in Dunamu to 4.03% from 10.58% after the deal closes in June, according to separate stock exchange filings from both companies.

Kakao said the sale was aimed at “securing funds for future investments,” while Hana Bank said the acquisition would help it “secure competitiveness in new finance.”

Hana Bank has been increasing its exposure to digital assets and partnered with Crypto.com in March to promote stablecoin payments for foreign visitors in South Korea.

Kakao first invested in Dunamu in 2013 before the company launched crypto exchange Upbit in 2017, which later became South Korea’s largest digital asset exchange by trading volume and helped turn cofounders Song Chi-hyung and Kim Hyoung-nyon into billionaires.

The divestment follows Dunamu’s planned merger with the payments unit of Naver in a transaction valuing the combined fintech entity at about $13.6 billion ahead of its expected completion in June.

The merged business is expected to expand across payments, insurance, crypto and securities trading as competition intensifies among South Korea’s digital finance platforms.