Korean traditional finance is moving aggressively into crypto infrastructure, with over 2.2 trillion KRW in Dunamu stake acquisitions by major institutions including Hana Bank and Samsung in under two weeks, while Mirae Asset, Korea Investment Securities, and OKX pursue further exchange consolidation. Meanwhile, retail participation is declining as institutional capital dominates through stablecoin development, STOs, and custody buildout, supported by an advancing regulatory framework under the Digital Asset Basic Act.
KOREA CRYPTO M&A
Korea's traditional financial sector moved at an unprecedented pace this week. Hana Bank agreed to acquire a 6.55 percent stake in Dunamu, operator of Upbit, for $670 million (closing June 15), becoming its fourth-largest shareholder with a mandate to jointly develop KRW stablecoins, blockchain-based remittances, and tokenized securities. Within ten days, Samsung Securities, Samsung SDS, and Samsung Card collectively acquired a 4 percent stake for $408 million (closing June 19). Hanwha Investment Securities separately approved a further 3.9 percent acquisition. Combined announced Dunamu stake purchases in under two weeks exceeded 2.2 trillion KRW. Mirae Asset is acquiring 92 percent of Korbit, and Korea Investment Securities and OKX are in reported discussions over a joint Coinone acquisition. Every major Korean financial institution now has direct ownership exposure to crypto exchange infrastructure.
The Naver-Dunamu merger shareholder vote remains scheduled for August 18 with deal close expected September 30.