Samsung Securities, Samsung SDS and Samsung Card acquire 4% stake in Upbit operator from Kakao-linked investors
An AI-generated image shows Samsung financial and IT affiliates acquiring a combined 4% stake in Dunamu, operator of South Korea’s Upbit cryptocurrency exchange, from Kakao-linked investors. AI-generated image by Asia Today and translated by UPI
Samsung Securities has acquired a stake in Dunamu, the operator of South Korea’s largest cryptocurrency exchange Upbit, marking a broader push by Samsung financial and technology affiliates into the digital asset market.
Samsung SDS and Samsung Card also joined the investment, giving Samsung’s finance and information technology units a new platform for cooperation in digital assets.
Samsung Securities, Samsung SDS and Samsung Card each held board meetings Thursday and approved the purchase of a combined 4% stake, or 1,394,974 shares, in Dunamu from Kakao affiliates and related funds for 612.8 billion won, or about $408 million, according to the Financial Supervisory Service. The shares are scheduled to be acquired June 19.
Samsung Securities will purchase the largest portion, taking a 2% stake, or 697,487 shares, for about 306.4 billion won, or about $204 million. Samsung SDS and Samsung Card will each acquire 1%, or 348,743 shares, for about 153.2 billion won, or about $102 million.
The shares are currently held by Kakao Investment, Kakao Ventures and Kakao Youth Startup Fund. Industry observers said Kakao, an early investor in Dunamu, is effectively completing its exit from the company.
Samsung, by contrast, is seen as making a strategic investment to respond early to the institutionalization of South Korea’s digital asset market.
The deal also reshapes Dunamu’s shareholder structure. Dunamu Chairman Song Chi-hyung, the company’s founder, remains the largest shareholder with about 25.6%, followed by Vice Chairman Kim Hyoung-nyoun with about 13.1%.
Hanwha Investment & Securities recently raised its stake to 9.84% by purchasing additional shares from Kakao-linked investors, becoming Dunamu’s third-largest shareholder. Hana Bank also remains a major financial-sector shareholder with about 6.55%.
With the latest transaction, Samsung’s three affiliates will join Dunamu’s shareholder group with a combined 4% stake.
Kakao, which once held more than 10% of Dunamu from the company’s early days, has now transferred its remaining stake to Hana Bank, Hanwha Investment & Securities and Samsung affiliates, effectively ending its investment.
Analysts say Samsung’s move reflects a strategy to secure a position in future financial markets through cooperation among its affiliates.
Samsung Securities plans to expand its digital investment business, including tokenized securities issuance and trading as well as virtual asset services. Samsung SDS plans to combine its artificial intelligence, cloud and security technologies with Dunamu’s blockchain operating expertise to expand digital financial infrastructure services for financial institutions.
Samsung Card plans to cooperate on digital asset payment services and distribution networks through Monimo, Samsung’s integrated financial platform, if a won-backed stablecoin is introduced. Industry officials say Samsung Card could strengthen its platform competitiveness by linking Upbit’s user base with its payment infrastructure.
“This equity investment is aimed at strengthening the digital asset business competitiveness of each affiliate,” a Samsung official said. “Through cooperation with Dunamu, South Korea’s No. 1 digital asset operator, we will work to secure market leadership.”
— Reported by Asia Today; translated by UPI
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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260528010008306
