Kakao Investment
Incorporated in 2015, Kakao Investment is an investment company focused on growth capital. In line with Kakao’s corporate mission to “Make a better world with people and technology”, Kakao Investment invests in start-ups that can actually realize innovations. In addition, Kakao Investment strives to build a virtuous cycle within the venture ecosystem by providing exit routes via M&As and IPOs.
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Samsung Securities plans to acquire 2% stake in Upbit operator Dunamu for $204 million
Samsung Securities has passed a board resolution to acquire 2% of Dunamu's shares for 306.3 billion won (approximately $204 million), totaling around 697,000 shares at an acquisition price of about 439,000 won per share.The sellers in this transaction include Kakao Investment, Kakao Ventures, Kakao Youth Startup Fund, and the KIF-Kakao Woori Bank Technology Finance Investment Fund. Based on the transaction price, Dunamu's overall valuation is estimated at approximately 15.3 trillion won (about $10.2 billion).Samsung Securities stated that this investment aims to enhance its competitiveness in the digital asset business and expand related synergies. Previously, Hanwha Investment & Securities also acquired Dunamu shares held by Kakao Investment at the same valuation. (Yonhap News Agency)
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Dunamu
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Upbit
Korea FSC Reviews Hana Bank's Acquisition of Dunamu Shares for Compliance with Regulatory Rules
the Financial Services Commission (FSC) of South Korea is reviewing whether Hana Bank's acquisition of shares in Dunamu violates the regulatory rule of "separation between finance and virtual assets."The Virtual Asset Department of the FSC stated that Hana Bank indirectly holds equity in Dunamu by acquiring shares in Kakao Investment. This essentially constitutes an investment in a virtual asset trading platform and will therefore be reviewed under the same regulatory standards.According to reports, since 2017, the South Korean government has restricted financial institutions from holding or purchasing virtual assets or making equity investments in related companies through administrative guidance. If ultimately found to be in violation, Hana Bank's related transaction may not proceed.Additionally, Mirae Asset Consulting is currently pushing forward with the acquisition of management rights for Kobit, while Korea Investment & Securities remains cautious about related businesses. Hana Bank had previously announced plans to acquire approximately 6.55% of Dunamu's shares, but did not consult with regulators beforehand. (iNews24)
Dunamu
Hana Bank plans to acquire Dunamu shares for approximately $670 million
According to Bloomberg, South Korea’s major commercial bank Hana Bank has acquired shares in cryptocurrency exchange operator Dunamu valued at approximately $670 million, signaling further adoption of digital assets by South Korean banks. Hana Financial Group stated that Hana Bank’s board of directors has approved the purchase of 228 million Dunamu shares from Kakao Investment. Dunamu operates Upbit, South Korea’s largest cryptocurrency exchange.
Dunamu
Upbit