Naver's Dunamu takeover faces antitrust scrutiny amid competition concerns
The Fair Trade Commission (FTC) has launched a formal review of Naver Financial’s planned acquisition of Dunamu, saying the deal could substantially restrict competition across multiple markets, including online payments and digital asset exchanges, the watchdog said Tuesday. The deal involves a comprehensive stock swap under which Naver Financial would acquire all shares of Dunamu. In return,…
The Fair Trade Commission has initiated a formal investigation into Naver Financial's proposed acquisition of Dunamu, expressing concerns that the deal could significantly limit competition in various sectors, such as online payments and digital asset exchanges. The acquisition would entail a stock swap, with Naver Financial purchasing all of Dunamu's shares in exchange for Naver Financial shares.
Dunamu currently operates as the leading crypto exchange in the country, known as Upbit. Upon completion, Naver Financial would become Dunamu's sole parent company, and Dunamu would become a wholly owned subsidiary of Naver Financial. Both companies have submitted proposals to address these competition concerns, and the FTC has begun reviewing the measures proposed by both parties.
Naver Financial aims to integrate one of Korea's largest digital asset exchanges into its financial portfolio, prompting the watchdog to hold a hearing on the matter in the near future. Final approval of the deal remains pending.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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