Overview
- Naver, which disclosed the change Monday in a regulatory filing, moved the shareholder vote to Aug. 18 and targeted closing to Sept. 30.
- The company said licensing procedures and shifts in South Korea’s regulatory framework prompted the schedule change.
- The deal still needs multiple approvals tied to major shareholding and business-combination reviews, so further delay or cancellation remains possible.
- The all-stock transaction, valued around $10.3 billion, would fold Upbit owner Dunamu into Naver’s financial unit to expand crypto and digital-asset services.
- Context for regulators and investors includes Dunamu’s 2025 declines in revenue, operating profit, and net profit, plus Naver’s separate plan for a “Silk Pocket” stablecoin wallet with Hashed and the Busan digital exchange.