South Korea reviews Naver Financial-Dunamu deal over competition concerns

South Korea’s Fair Trade Commission has begun deliberations on the proposed business combination between Naver Financial and Dunamu after determining the deal may raise competition concerns, Digital Asset reported. The commission said on Nov. 10 it submitted an examiner’s report to the panel after completing procedures for proposed remedies related to the business combination through a comprehensive stock swap. The commission said the mixed and vertical combination between leading players across multiple relevant markets could risk excluding competitors. It also said a competitive assessment is needed for the not-yet-formed market for issuing won-denominated stablecoins. The specific remedies were not disclosed. The Fair Trade Commission plans to hold a full-panel meeting as soon as possible this year to decide whether to give final approval to the combination and what corrective measures to impose.