NAVER said on the 30th that the comprehensive share exchange schedule between its subsidiary Naver Financial and Dunamu has been delayed by about three months.

Accordingly, the shareholder meeting to vote on the share exchange agenda was pushed back by three months from May 22 to Aug. 18, and the transaction closing schedule was pushed back from June 30 to Sept. 30.

Executives from Naver, Naver Financial, and Dunamu give a briefing at a joint press conference. From left: Park Sang-jin, Npay CEO; Choi Soo-yeon, Naver CEO; Lee Hae-jin, Naver board chair; Song Chi-hyung, Dunamu chair; Oh Kyoung-suk, Dunamu CEO. /Courtesy of News1

NAVER said it adjusted the schedule to ensure a more stable transaction closing by reflecting licensing procedures related to the share exchange and the status of legal and regulatory updates. The necessary work, including approval procedures, is underway.

NAVER and Dunamu plan to promote new businesses based on digital assets through this share exchange and respond to the trend of digital transformation in finance.

NAVER said, "In our challenge toward the global digital asset market, it is important to create synergy by combining the strengths of both companies," and added, "We will do our best to ensure the affiliate integration process is completed without a hitch."

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