[Market Focus] Naver Rallies for Second Day on News of Share Swap with Dunamu

Naver has shown strong performance for two consecutive days. This comes as news broke that the company will exchange shares with Dunamu, the operator of Upbit, the largest virtual asset exchange in South Korea.

As of 9:38 a.m. on September 26, Naver was trading at 257,000 won, up 3,000 won (1.18%) from the previous trading day.

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The previous day, Naver's stock price surged by 11.4% after it was reported that the company had decided to incorporate Dunamu, the operator of Upbit, as an affiliate. The stock continues its upward trend today, influenced by the related news.

Naver plans to carry out a comprehensive stock swap through its fintech subsidiary, Naver Financial, to make Dunamu a wholly owned subsidiary. Both parties will use this opportunity to actively enter the digital finance industry, including the won-based stablecoin business.

However, Naver announced, "Naver Financial is discussing various forms of cooperation with Dunamu, not only regarding stablecoins and unlisted stock trading, but also including share exchanges," and added, "No additional details or methods of cooperation have been finalized."

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