South Korean conglomerate Samsung is expanding its exposure to digital assets through a 612.8 billion won ($408 million) investment in Dunamu, the operator of cryptocurrency exchange Upbit, in one of the country’s largest institutional crypto-related deals this year.
Samsung Securities, Samsung SDS and Samsung Card said Thursday they will jointly acquire a 4% stake in Dunamu through an all-cash transaction scheduled to close on June 19. The shares are being purchased from Kakao-affiliated investment entities, including Kakao Investment and Kakao Ventures, which are fully exiting their positions in the company.
Under the agreement, Samsung Securities will acquire a 2% stake, while Samsung SDS and Samsung Card will each take 1%. The transaction involves roughly 1.39 million shares and values Dunamu at more than 15 trillion won, according to local filings and market estimates.
The investment marks another significant ownership shift around Dunamu, which operates Upbit, South Korea’s largest crypto exchange by trading volume. Earlier this month, Hana Bank agreed to acquire a 6.55% stake in Dunamu for about 1 trillion won ($670 million), while Hanwha Investment & Securities also disclosed a separate share purchase.
Samsung’s Strategic Focus
The three Samsung affiliates are entering the deal with different business objectives tied to digital finance infrastructure and tokenized assets.
Samsung Securities said it plans to expand cooperation with Dunamu in tokenized securities issuance, digital asset distribution and virtual asset-related financial services. The company has been exploring blockchain-based investment products as South Korea prepares regulations for tokenized securities markets.
Samsung SDS, the group’s IT and cloud services arm, plans to integrate its capabilities in artificial intelligence, cybersecurity, cloud computing and enterprise data management with Dunamu’s blockchain infrastructure. The company said the partnership could help strengthen blockchain software competitiveness and financial infrastructure services.
Samsung Card is examining potential crypto-linked payment services and digital asset settlement infrastructure, particularly through Samsung Financial Group’s Monimo platform if South Korea formally permits won-based stablecoins.
The investment does not involve a direct operational merger, but analysts view the transaction as part of a broader effort by Korean conglomerates to position themselves ahead of new digital asset regulations expected under the proposed Digital Asset Basic Act.
Kakao Continues to Reduce Dunamu Exposure
The sale also reflects changing priorities inside Kakao, one of Dunamu’s early backers. With the latest transaction, Kakao and related investment entities have sold roughly $1.5 billion worth of Dunamu shares in less than a month.
Kakao has increasingly shifted its strategic focus toward artificial intelligence initiatives, including expansion of its “Kanana” AI models and partnerships with global technology firms. Market observers say the company appears to be reallocating capital toward AI and platform businesses while reducing exposure to crypto-related investments.
Despite the stake sales, Dunamu remains one of South Korea’s most influential fintech companies. Upbit has consistently controlled a dominant share of local crypto trading volume, making the exchange central to the country’s digital asset ecosystem.
Institutional Competition Around Korean Crypto Infrastructure
Samsung’s investment highlights growing competition among traditional financial institutions seeking access to crypto infrastructure before formal regulatory frameworks are finalized. Over the past year, several major Korean financial groups have increased investments or partnerships linked to blockchain services, tokenized securities and stablecoin-based payments.
Key developments include:
- Hana Bank’s acquisition of a 6.55% stake in Dunamu
- Mirae Asset’s move to acquire a controlling stake in crypto exchange Korbit
- Expanded stablecoin and blockchain payment pilots involving KB Kookmin Bank and Shinhan Financial
- Growing interest in tokenized securities distribution platforms among Korean brokerages
Industry analysts say the trend reflects expectations that regulated digital assets could become integrated into mainstream banking, payments and securities infrastructure over the next several years. While South Korea still maintains strict crypto compliance requirements, institutional participation in the sector has accelerated as lawmakers prepare broader rules for stablecoins, custody services and tokenized financial products.
