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Samsung units seek Dunamu stake as Kakao trims crypto
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Samsung units seek Dunamu stake as Kakao trims crypto

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Three Samsung-linked companies have agreed to buy a combined 4% stake in Dunamu, the operator of South Korea’s largest crypto exchange, Upbit.

The deal is worth 612.8 billion won, or about $408 million, according to a report from the Korea Herald.

Samsung Securities is expected to acquire the largest portion, taking a 2% stake in Dunamu through a 306 billion-won cash deal.

The stake will be purchased from affiliates of Kakao, the South Korean technology group that has been reducing its Dunamu holdings.

Samsung Card and Samsung SDS are also joining the transaction, with each company set to buy a 1% stake in Dunamu.

The deals are scheduled to close on 19 June, subject to the usual completion process.

Kakao’s latest sale adds to a wider exit from Dunamu shares over the past month.

The technology group recently sold a 6.55% stake in Dunamu to Hana Bank for about 1 trillion won.

Kakao also sold another stake worth around 600 billion won to Hanwha Investment and Securities.

In total, Kakao has sold roughly $1.5 billion worth of Dunamu equity in less than a month.

The sales come as Kakao places more attention on artificial intelligence through its Kanana AI models and partnerships with OpenAI.

The shift suggests Kakao may be giving AI a higher priority while the cryptocurrency market remains under pressure.

Dunamu remains one of South Korea’s most important crypto companies because it operates Upbit, the country’s biggest digital asset exchange.

Samsung’s interest in Dunamu also shows that major financial and technology groups still see value in regulated crypto infrastructure.

Samsung has already been active in digital assets for several years, including the launch of its digital asset wallet in 2019.

The investment gives Samsung affiliates a deeper position in South Korea’s crypto market without directly operating an exchange.

Market reaction was mixed after the news, with Samsung Securities shares falling 2.7% on Thursday.

Samsung SDS shares dropped 5%, while Samsung Card rose slightly by 0.21%.

Kakao shares also slipped 1% as investors weighed the company’s ongoing move away from its Dunamu stake.

The companies had not responded to requests for comment by the time of publication.

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