Dunamu and NAVER Share Swap Faces Regulatory Hurdles

A potential share swap between Upbit operator Dunamu and a subsidiary of NAVER (NAVER) may conflict with South Korean regulations. According to the National Assembly Legislative Research Service, the deal could trigger issues regarding minimum shareholding requirements for holding companies under the Fair Trade Act and potential ownership caps for major shareholders of virtual asset exchanges. If NAVER Pay were to become a holding company, the governance structure would likely require adjustments to comply with these conflicting standards.