South Korean internet and fintech conglomerate Naver and Dunamu, the parent company of the nation’s largest crypto exchange Upbit, have announced a plan to invest 10 trillion Korean won ($6.8 billion) into advanced financial infrastructure. The five-year investment is slated to focus on combining artificial intelligence (AI) and blockchain technology. This commitment follows Naver Financial’s official confirmation of its acquisition of Dunamu through a share-swap transaction.
The joint venture aims to establish a new global framework encompassing financial services, payments, and settlements. Executives from both companies cited the critical juncture between the popularization of blockchain and the transition to agentic AI as the impetus for the substantial investment. The merger integrates Naver’s AI and commerce capabilities with Naver Financial’s payment systems and Dunamu’s digital asset and blockchain ecosystem.
The newly merged entities also confirmed they will prioritize the development of a Korean won-pegged stablecoin. This initiative aligns with broader national efforts, supported by South Korean President Lee Jae Myung, to establish a domestic stablecoin market and protect monetary sovereignty. Competitor IT giant Kakao has also advanced its own won-backed stablecoin initiative, although regulatory groundwork remains complicated by the Bank of Korea’s stance on issuer eligibility.
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