SEOUL — Three Samsung Group affiliates have agreed to acquire a combined 4 percent stake in Dunamu Inc., the operator of South Korea's largest cryptocurrency exchange Upbit, for 612.8 billion won ($408 million), joining a rapidly broadening sprint by the country's biggest financial institutions to stake out positions in digital-asset infrastructure.
Samsung Securities Co. will take a 2 percent stake, while Samsung SDS Co. and Samsung Card Co. will each acquire 1 percent, the companies confirmed Wednesday. The 1.39 million shares are being purchased from Kakao Investment, Kakao Ventures and related Kakao affiliates, all of which are fully exiting their Dunamu positions. The transaction is set to close June 19.
"The investment is intended to strengthen each affiliate's competitiveness in digital finance and help secure leadership in the rapidly evolving digital asset market," a Samsung official said.
The three buyers have outlined distinct strategic goals. Samsung Securities plans to co-develop token securities issuance, distribution and virtual asset custody services with Dunamu. Samsung SDS, the group's IT arm, aims to pair its AI, cloud and cybersecurity expertise with Dunamu's blockchain capabilities to compete in digital finance infrastructure. Samsung Card, meanwhile, is targeting a crypto-linked payment ecosystem, potentially integrating Dunamu's rails with its Monimo mobile platform should South Korea launch a won-denominated stablecoin — a product Seoul's financial regulators are actively preparing rules for.
A Widening Sectoral Sprint
Samsung's consortium is far from alone. KED Global reported Thursday that financial institutions across the country are in a widening dash to buy into Korean crypto exchanges before the government finalises its digital assets law, which is expected to ease restrictions allowing banks and financial firms to hold controlling stakes in stablecoin issuers.
Hanwha Investment & Securities has agreed to purchase an additional Dunamu stake valued at roughly $398 million, a move that would push it ahead of Hana Bank in the shareholder rankings. Hana Financial Group had earlier acquired 6.55 percent of Dunamu for over 1 trillion won ($667 million), becoming the exchange operator's fourth-largest shareholder.
The race extends beyond Dunamu. Korea Investment & Securities has set its sights on Coinone, South Korea's third-largest exchange, while Mirae Asset Financial Group is in talks to acquire Korbit, the fourth-largest venue, for up to 140 billion won ($97.5 million).
The combined deal activity signals a structural repricing of Korean crypto infrastructure. At ₩612.8 billion for a 4 percent stake, Samsung's entry implies a total Dunamu valuation of roughly 15.3 trillion won ($10.5 billion).
Regulatory Catalyst
At the heart of the frenzy is South Korea's forthcoming digital assets framework. Authorities are examining shareholder eligibility requirements and considering easing ownership limits that currently prevent banks from holding controlling stakes in won-denominated stablecoin issuers. Financial firms want a seat at the table before the rules crystallise.
For Samsung, the deal marks a notable broadening of the group's digital finance ambitions. Samsung Pay already processes tens of millions of daily transactions in Korea, and Samsung Card's Monimo platform commands a substantial mobile payment user base. Attaching Dunamu's on-chain rails to that infrastructure would position the group to offer integrated fiat-to-crypto and stablecoin-based payment flows if domestic regulations permit.
The Kakao exits are equally telling. The full disposal of Kakao-linked Dunamu holdings comes as the Kakao Group continues to rationalise its investment portfolio under shareholder and regulatory pressure, concentrating resources on its core messaging, AI and content businesses.
Sources: The Korea Herald (May 29, 2026); The Korea Times (May 28, 2026); KED Global (May 29, 2026)
