Samsung Affiliates Acquire 4% Stake in Upbit Operator Dunamu for $408 Million

Three Samsung affiliates have agreed to acquire a combined 4% stake in Dunamu, the operator of South Korea’s largest cryptocurrency exchange, Upbit, in a deal valued at 612.8 billion won ($408 million). The investment highlights Samsung’s continued interest in the digital asset industry despite ongoing weakness in the global crypto market.

According to reports from the Korea Herald, Samsung Securities will purchase a 2% stake in Dunamu through a 306 billion-won cash deal. The shares will be acquired from affiliates of Kakao, one of South Korea’s leading technology companies. Samsung Card and Samsung SDS will also participate in the transaction, each securing a 1% stake in the crypto exchange operator.

The acquisition is expected to close on June 19 and represents another major sale of Dunamu shares by Kakao. Over the past month, Kakao has sold nearly $1.5 billion worth of equity in Dunamu. Earlier, Hana Bank acquired a 6.55% stake for approximately 1 trillion won, while Hanwha Investment and Securities purchased another stake valued at 600 billion won.

Kakao has recently shifted its strategic focus toward artificial intelligence, emphasizing the development of its “Kanana” AI models and expanding partnerships with OpenAI. As cryptocurrency markets remain under pressure, many major technology firms are prioritizing AI investments over digital assets.

Samsung, South Korea’s largest conglomerate, has maintained a presence in the cryptocurrency sector since launching its digital asset wallet in 2019. The latest investment in Dunamu signals that the company still sees long-term potential in blockchain and crypto-related services.

Following news of the transaction, Samsung Securities shares declined 2.7%, Samsung SDS fell 5%, while Samsung Card edged up 0.21%. Kakao shares also slipped 1% during Thursday trading.