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Kakao Investment Sells Dunamu Stake for $1.2 Billion Profit
🇰🇷 South Korea /Economy & Trade

Kakao Investment Sells Dunamu Stake for $1.2 Billion Profit

From Chosun Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Official statement Outcome reported
  • Kakao Investment realized a profit of approximately 1.6 trillion won by selling its stake in Dunamu.
  • The investment, made about 14 years ago with 3.5 billion won, yielded a return of about 457 times.
  • The sale of Dunamu shares, which operates the Upbit cryptocurrency exchange, generated significant returns for Kakao.

Kakao Investment has reaped a massive profit of roughly 1.6 trillion won (approximately $1.2 billion USD) from the sale of its stake in Dunamu, the operator of South Korea's leading cryptocurrency exchange, Upbit.

The investment, initially a modest 3.5 billion won (around $2.6 million USD) made approximately 14 years ago, has yielded an astonishing return of about 457 times its original value. Kakao Investment offloaded 2.284 million shares, representing about 9.5% of Dunamu's total shares, on the 15th and 20th of this month, according to financial regulatory filings.

This lucrative divestment highlights the significant growth and success of Dunamu and its Upbit platform in the burgeoning cryptocurrency market. The substantial profit underscores Kakao's strategic investment acumen and its ability to identify and capitalize on high-growth opportunities in the tech sector.

DistantNews Editorial

Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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