Naver's board of directors is expected to make a final confirmation of the Dunamu acquisition next week.

According to sources, Naver, South Korea's largest portal site, is expected to confirm its acquisition of Dunamu, the operator of Upbit, South Korea's largest cryptocurrency exchange, at its board meeting next week.

Sources familiar with the matter revealed that Dunamu plans to hold a board meeting on November 26 to confirm the specific details of the acquisition plan.

Naver reportedly plans to push through a full stock swap via its fintech subsidiary, Naver Financial, to make Dunamu a wholly owned subsidiary, a move aimed at expanding its business footprint in the digital finance sector. (koreatimes)