Naver, Naver Financial, and Dunamu have approved a comprehensive business integration that will bring Dunamu into the Naver corporate family through a stock exchange. The three companies unveiled their global expansion vision on November 27 at 1784, Naver’s headquarters in Seongnam. Top executives from all three companies attended, including Naver Chairman Hae-jin Lee, Dunamu Chairman Chi-hyung Song and Vice Chairman Hyung-nyun Kim, along with CEOs Soo-yeon Choi (Naver), Kyung-seok Oh (Dunamu), and Sang-jin Park (Naver Financial).

Choi explained the strategic rationale behind the merger. “We’re at a pivotal technological moment where blockchain mass adoption is converging with the rise of agentic AI—where AI makes autonomous decisions and executes tasks. This creates an unprecedented opportunity for innovation. Naver and Dunamu are united in our commitment to seize this moment and drive global innovation.”

Chairman Song outlined the combined ambitions of the three companies. “By joining forces, we aim to design next-generation financial infrastructure combining AI and blockchain, and create a new global platform ecosystem that extends beyond payments to encompass all financial services and even lifestyle services.”

Chairman Lee emphasized the strategic necessity of the merger. “Naver’s AI capabilities must synergize with Web3 to capture the next-generation market. For Dunamu and Naver Financial to stay competitive in the global digital finance industry, we need a fast decision-making structure and must attempt new innovations that global players haven’t yet pursued.”

Vice Chairman Kim highlighted the transformative potential of blockchain technology. “Most assets will eventually be tokenized and circulated on blockchain platforms. Through this merger, we will create a future where Korea leads the borderless digital asset market.”

CEO Oh emphasized that the deal’s essential goal is to transform the global technological inflection point from a threat into an opportunity for greater growth by combining the capabilities of both companies.

Once the merger completes, it will unite three powerhouses: Naver, Korea’s largest internet company and a leading search and AI technology firm; Naver Financial, the dominant mobile payment provider serving over 34 million users and processing more than $54.6 billion (80 trillion KRW) annually; and Dunamu, operator of Upbit, one of the world’s top-tier digital asset exchanges with Korea’s most advanced blockchain technology including the Gaia chain. Together, they’ll leverage these complementary strengths to capture new global opportunities.

CEO Choi stressed the importance of stakeholder communication. “It’s crucial to ensure external stakeholders fully understand our shared vision. Once this deal is completed, we will prioritize global expansion, build a collaborative culture, and establish a full lineup of users, data, technology, services, and capital. We are thoroughly preparing to boldly enter the global Web3 market.”

Choi also announced plans to strengthen Korea’s technology ecosystem around AI and Web3. “Global players with strong technological and service advantages are already emerging. For domestic companies to stay competitive, we need a robust foundational ecosystem.” To that end, the companies will invest $6.8 billion (10 trillion KRW) over five years to foster AI and Web3 development.

CEO Oh outlined the immediate priorities. “Dunamu and Naver Financial will focus primarily on completing the comprehensive stock exchange and integration to maximize synergies. Rather than additional governance changes, we will concentrate on global market entry and expanding access to capital markets.”