Naver-Dunamu merger review progresses as FTC seeks more data

The merger review for Naver Financial, South Korea's leading simple payment provider, and Dunamu, the operator of the country's largest crypto exchange Upbit, is reportedly entering its final stages, Yonhap News reported. This speculation follows the recent news that South Korea's Fair Trade Commission (FTC) has requested additional information from both companies. The FTC began its review after receiving the merger notification on Nov. 28 of last year and is expected to reach a decision as early as May, or by the first half of this year at the latest. In November, Naver Financial and Dunamu approved a comprehensive stock swap that would make Dunamu a subsidiary of Naver Financial and a grandchild company of Naver.