Dunamu, Naver Financial Delay Share Swap to Dec. 31; Shareholder Meeting Set for Nov. 19

Dunamu and Naver Financial have delayed their comprehensive share swap to the end of the year.

Dunamu said in a revised filing on July 6 that it changed the schedule for the share swap with Naver Financial. The extraordinary shareholders’ meeting was postponed to Nov. 19 from Aug. 18, and the share swap date was pushed back to Dec. 31 from Sept. 30.

The record date for determining shareholders was also moved to Oct. 22 from July 22. Related procedures, including the period for filing objections to the share swap and the window for exercising appraisal rights, were rescheduled as well.

The companies formally announced the share swap at a joint press conference on June 27 attended by Dunamu Chairman Song Chi-hyung and Naver board Chairman Lee Hae-jin.

Separately, Dunamu is stepping up its stablecoin push, including by expressing its intention to join Open Standard, a global stablecoin alliance. Open Standard plans to launch OpenUSD, or OUSD, within this year.

OpenUSD will be operated jointly by a consortium of more than 140 global companies. Participants include Visa, Mastercard, Stripe, BlackRock, Google, IBM, Coinbase and Solana, along with 13 South Korean companies including Samsung Electronics, Shinhan Financial Group, KakaoBank, K Bank, Hyundai Card, KB Kookmin Card, BC Card and Hanwha Life.

Lee Min-jae, Korea Economic TV reporter, tobemj@wowtv.co.kr