Naver has announced plans to buy back approximately USD 745 million in treasury stock, as the company advances a broader shift into fintech and crypto infrastructure.
According to the announcement, the South Korea-based internet company disclosed the buyback programme as part of a wider corporate strategy that includes a pending merger between its subsidiary, Naver Financial, and Dunamu, the operator of South Korea's Upbit cryptocurrency exchange. The scale of the repurchase is more than double that of the company's previous buyback programme, announced in 2024.
A pattern of share buybacks
Naver has repeatedly used share repurchases as part of its capital management approach in recent years. In 2024, the company announced plans to buy back and cancel shares worth 400 billion won, equivalent to roughly USD 306 million. In 2023, Naver completed a buyback of 1.64 million shares valued at approximately 305.3 billion won. According to the source material, Naver's chief executive has also purchased 700 million won worth of company shares personally.
The buyback comes as Naver Financial pursues an all-stock merger with Dunamu, valued at approximately 15.1 trillion won, or around USD 10 billion. The transaction is structured with a stock-swap ratio of approximately 1:2.54. The deal was originally expected to close during 2025, but regulatory considerations have extended the completion deadline to 31 December 2026.
South Korea has been tightening its regulatory approach to cryptocurrency markets, and a transaction of this size, involving one of the country's largest crypto exchanges and a major technology conglomerate, is subject to regulatory review. The extended timeline reflects the scope of the assessment required before the merger can be finalised.
Stablecoins and digital finance plans
Beyond the merger itself, Naver Financial has been developing stablecoin capabilities and examining potential synergies between artificial intelligence and Web3 infrastructure. The company has indicated that its partnership with Dunamu forms part of a broader push into digital finance, combining Naver's existing internet and AI operations with Dunamu's crypto exchange infrastructure.
If completed, the merger would bring together one of South Korea's largest internet platforms with its dominant crypto exchange operator, creating a combined entity spanning search, AI, payments, and digital assets. The outcome of the ongoing regulatory review will determine the pace at which this integration can proceed, with the extended 2026 deadline suggesting continued scrutiny of the transaction's structure and implications for South Korea's financial and crypto markets.
