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Documents submitted by the South Korean internet company Naver to regulatory authorities show that Nvidia completed a payment of $1 billion on Friday and acquired a 4.13% stake in Naver through a third-party share placement. Naver issued over 6.5 million shares through a private placement, raising approximately 1.3 trillion Korean won (about $1 billion).This investment is expected to accelerate the AI factory collaboration project announced by both parties in June of this year. Naver plans to start by building GPU-based infrastructure at the Gak Sejong data center in Sejong City, further expanding its GPU-as-a-Service business.

Global investment company Brookfield has appointed KB Kookmin Bank as the lead arranger for the largest syndicated loan in South Korea's history. The loan amounts to 10.7 trillion Korean won (approximately 8 billion USD) and aims to provide funding support for South Korean tech giant NAVER to procure artificial intelligence chips.

On October 30, according to overseas financial news citing regulatory documents, NVIDIA plans to complete a $1 billion investment in the South Korean internet company Naver on November 6, which will make it Naver's third-largest shareholder after the completion. This capital increase occurs after Naver has secured at least $9 billion in investment funds for computing infrastructure. Naver will determine the number of common shares to be allocated to NVIDIA through a rights offering on November 3.In July this year, Naver and NVIDIA announced a strategic partnership aimed at building a large global AI factory. According to Naver's revised third-party rights offering regulatory documents, the payment date for the investment has been adjusted from the original date to November 6, and the new shares are expected to be listed on November 27. After the investment is completed, NVIDIA's shareholding ratio will be approximately 4.54%.As of data from August this year, Naver's largest shareholder is the National Pension Service of Korea, holding 9.49%, and the second-largest shareholder is BlackRock, holding 7.31%. Naver's founder and chairman of the board, Lee Hae-jin, was originally the third-largest shareholder, holding 4.03%, but after the new share issuance, his stake is expected to decrease to about 3.84%. Relevant documents also indicate that NVIDIA's allocated new shares have a one-year sale restriction, with an issue price of 204,500 Korean won per share, and the final number of shares issued will be determined based on the exchange rate on November 3.

According to a report by the Korean News Agency, the stock exchange transaction between Upbit's parent company Dunamu and NAVER Pay, a subsidiary of South Korean internet giant NAVER, may have uncertainties. Data disclosed by the Legislative Investigation Office of the Korean National Assembly indicates that the related transaction may simultaneously face the minimum shareholding ratio for subsidiaries stipulated by the Fair Trade Act, as well as the maximum shareholding ratio limit for major shareholders of virtual asset exchanges.Currently, NAVER Pay does not seem to belong to a holding company, but if it becomes a holding company in the future and includes the exchange as a subsidiary, there may be a situation where two conflicting shareholding standards apply simultaneously, necessitating an adjustment of the governance structure. The Korean Fair Trade Act stipulates that a holding company's shareholding ratio in listed subsidiaries must not be less than 30%, and for non-listed subsidiaries, it must not be less than 50%; for venture capital holding companies, it is 20%. Additionally, the second phase of discussions on South Korean virtual asset legislation also involves setting a shareholding limit for major shareholders of exchanges to reduce the concentration of control and the risk of conflicts of interest among specific shareholders.

According to a report by Yonhap News Agency, the stock swap transaction between Upbit's parent company Dunamu and a subsidiary of South Korean internet giant NAVER may have uncertainties. Data disclosed by the Legislative Investigation Office of the National Assembly of Korea shows that the related transaction may simultaneously face the minimum shareholding ratio for subsidiaries stipulated by the Fair Trade Act, as well as the maximum shareholding ratio limit for major shareholders of virtual asset exchanges.Currently, NAVER Pay does not seem to belong to a holding company, but if it becomes a holding company in the future and includes the exchange as a subsidiary, there may be a situation where two conflicting shareholding standards apply simultaneously, thus requiring adjustments to the governance structure. The Fair Trade Act of Korea stipulates that a holding company must hold at least 30% of the shares in listed subsidiaries and at least 50% in non-listed subsidiaries; for venture capital holding companies, the requirement is 20%. The second phase of discussions on South Korean virtual asset legislation also involves the maximum shareholding limit for major shareholders of exchanges to reduce the concentration of control and the risk of conflicts of interest among specific shareholders.

According to Jinshi reports, Nvidia (NVDA.O) announced that it will invest $1 billion in South Korean internet and cloud service provider Naver for its AI data center project under construction in Korea.Nvidia stated that this funding will allow Naver's data center to expand more than twice its current size. The project is jointly developed by Naver and the American private equity firm Brookfield Group, and will be fully equipped with Nvidia AI computing hardware.In addition, Nvidia has reached a cooperation agreement with SK Group to plan the construction of an AI data center cluster in Korea with a total computing power exceeding 2 gigawatts, which can roughly meet the electricity needs of 1.5 million households.Nvidia revealed that the first AI computing factory built by SK Telecom will be put into operation next year. Nvidia CEO Jensen Huang stated, "Korea is entering a golden development period. The country's semiconductor industry and industrial sector are thriving, and it has the complete capability to build AI infrastructure for the world."

According to South Korea's Digital Asset, the comprehensive equity exchange date between Naver Financial and Upbit's parent company Dunamu has been postponed again from September 30 to December 31, marking the second delay this year, having previously been postponed from June 30 to September 30 in March.The equity exchange ratio remains unchanged, with 1 share of Dunamu exchanged for 2.5422618 shares of Naver Financial. Dunamu stated that the transaction still requires approval from the Fair Trade Commission for corporate mergers, approval for changes in major shareholders under the Credit Information Act, and reporting of changes in major shareholders under the Specific Financial Information Act, and the progress may lead to further delays or even the transaction falling through.Dunamu also pointed out that legislative discussions on the Basic Law of Digital Assets are progressing, and the content of future regulations may impact the conduct or outcome of the equity exchange.

According to Bloomberg, South Korean internet and cloud service provider Naver has decided to build a data center based on Nvidia's model to consolidate its leading position in the artificial intelligence field in South Korea.Raj Mirpuri, head of global AI cloud and infrastructure at Nvidia, stated that Naver will build AI infrastructure based on Nvidia's DSX platform and provide support for agents and robots at a gigawatt scale.

According to Tech in Asia, South Korean internet giant Naver plans to promote the IPO of its fintech subsidiary Naver Financial within five years after completing a share swap with Dunamu, the operator of the cryptocurrency exchange Upbit in which it holds shares. The transaction has been delayed due to an extended antitrust review period, and the specific timetable and structure will depend on market conditions and the regulatory environment. The proposed "Digital Asset Basic Law" in South Korea may change the transaction structure or timetable.On the same day the share swap contract was signed, both parties entered into a shareholder agreement, requiring the establishment of an IPO committee for Naver Financial within one year after the share swap is completed. If the IPO is not achieved within five years, the timeframe can be extended by another two years. Regulators are also discussing a proposal to limit the shareholding ratio of the major shareholders of the exchange to within 20%, which may lead to adjustments in the transaction terms.

According to Money Today, the Financial Supervisory Service (FSS) of South Korea issued a corrective order to Dunamu, the operator of Upbit, on April 3 regarding the "comprehensive stock exchange and transfer decision" main matters report. The FSS pointed out that there were significant omissions or false records in the report submitted by Dunamu on March 30, concerning the "future company restructuring plan" and "other important matters related to investment judgment."Dunamu clearly stated in the report that due to the need to obtain approval from the Fair Trade Commission, as well as the need to complete the major shareholder change declaration in accordance with the Credit Information Act and the Specific Financial Information Act, this stock exchange may face risks of delay or cancellation. In addition, the legislative process of the "Basic Law on Digital Assets," which is currently under review in South Korea, may also have a significant impact on the transaction.

South Korean tech giant Naver and Dunamu, the parent company of South Korea's largest cryptocurrency exchange Upbit, plan to jointly invest 10 trillion won (approximately 6.8 billion USD) over the next five years to build a new generation of financial infrastructure based on AI and blockchain technology.Naver's fintech division, Naver Financial, confirmed on Wednesday that it will acquire Dunamu through a share swap. This is one of the largest collaborations in South Korea's fintech and cryptocurrency sectors, integrating Naver's AI and business capabilities, Naver Financial's payment and financial infrastructure, and Dunamu's digital asset trading and blockchain ecosystem.Dunamu President Oh Kyung-seok stated that the two companies will also work together to issue a won-pegged stablecoin. Previously, Naver Financial planned to launch a stablecoin wallet service in Busan next month. South Korean President Lee Jae-myung has chosen to promote the establishment of a local currency-pegged stablecoin market to protect monetary sovereignty.

According to a report by Bloomberg, South Korea's largest portal site Naver Corporation has agreed to acquire Dunamu Inc. — the operator of South Korea's largest cryptocurrency exchange Upbit — in an all-stock transaction valued at approximately $10.3 billion.According to the transaction plan disclosed through regulatory filings on Wednesday, Naver's fintech subsidiary Naver Financial Corp. will complete the acquisition by issuing 2.54 new shares of Naver for each share of Dunamu held.

South Korean tech giant NAVER announced that NAVER Financial will acquire 100% of the shares of Dunamu, the operator of the cryptocurrency exchange Upbit, through a share swap, making it a wholly-owned subsidiary.According to the disclosed information, the share swap price for Dunamu is set at 439,252 KRW per share, while the share swap price for NAVER Financial is set at 172,780 KRW per share, with a swap ratio determined at 1:2.54. NAVER stated that by acquiring Dunamu, NAVER Financial aims to gain future growth momentum based on digital assets. The company noted that after the transaction is completed, both companies will continue their existing business operations while ensuring future growth momentum through functional organic cooperation and will review various structural reorganization plans to enhance operational efficiency and shareholder value.

The financial division of South Korean tech giant Naver, Naver Financial, has completed the development of a stablecoin wallet, which is currently in the final verification stage and is set to launch next month.The wallet project is being developed in collaboration with venture capital firm Hashed and the Busan Digital Asset Exchange (BDAN), and will support the local currency "Dongbaek-jeon" in Busan for stablecoin conversion, allowing residents and tourists to exchange various fiat currencies for stablecoin forms of the local currency. This service will be integrated with Naver Pay Wallet, but full functionality will await the establishment of a regulatory framework for local currency stablecoins in South Korea. Meanwhile, Naver is merging with Dunamu, the parent company of South Korea's largest crypto exchange Upbit, through a share swap, and after the merger, Dunamu plans to go public on Nasdaq as a wholly-owned subsidiary of Naver.

According to Beincrypto, South Korea's largest cryptocurrency exchange Upbit's parent company Dunamu and payment platform Naver Financial plan to announce a merger on November 27. The boards of both parties will approve this all-stock exchange transaction on the 26th, with an estimated exchange ratio of 1:3. After the transaction is completed, Dunamu will become a wholly-owned subsidiary of Naver Financial.After the merger, Dunamu's major shareholders will hold nearly 30% of the new company, while Naver's stake will decrease from 69% to 17%, but it will retain operational control. This transaction values Naver Financial at approximately 50 trillion won and Dunamu at about 150 trillion won.

According to a report by koreatimes, sources indicate that South Korea's largest portal site Naver is expected to confirm its acquisition plan for Dunamu at a board meeting scheduled for next week. Dunamu is the operator of Upbit, South Korea's largest cryptocurrency exchange.Insiders revealed that Dunamu plans to hold a board meeting on November 26 to confirm the specific details of the acquisition plan.It is said that Naver plans to promote a comprehensive stock swap through its fintech subsidiary Naver Financial, making Dunamu a wholly-owned subsidiary, aiming to expand its business layout in the digital finance sector.

According to ChainCatcher news, local media Chosun reported that Naver's financial subsidiary is advancing a comprehensive equity exchange with Dunamu, the operator of the virtual asset exchange Upbit.This collaboration will integrate Naver's payment business, which has an annual transaction volume of 80 trillion won, with the advantages of Upbit, the world's fourth-largest virtual asset exchange, to jointly develop the Korean won stablecoin business and plan to expand into overseas markets.