Dunamu and NAVER Pay share swap faces potential regulatory hurdles

The proposed share swap between Upbit parent company Dunamu and NAVER Pay may face complications due to South Korean regulatory standards. According to the National Assembly Research Service, the deal could conflict with the Fair Trade Act regarding minimum shareholding requirements for subsidiaries and maximum ownership limits for major shareholders of virtual asset exchanges. If NAVER Pay transitions into a holding company and incorporates the exchange as a subsidiary, it may be forced to reconcile conflicting ownership rules, potentially requiring a restructuring of its governance.