Seoul = News 1) Reporter Han Yu-joo = 'Native Big Tech' Naver (035420) also showed strength in the KOSPI plunge for two consecutive days due to the favorable "Big Deal" with Dunamoo, the unrivaled No. 1 virtual asset exchange. As the stock market is also scrambling to forecast a rise in corporate value for the "blood alliance" of Naver and the blockchain revolution, attention is being paid to whether the stock price, which has remained in the box, will leap again.
According to the Korea Exchange on the 27th, Naver rose 0.98 percent (KRW 2,500) to close at 256,500 won on the previous day. The KOSPI plunged more than 2 percent, maintaining its upward trend despite weakness in most of the top market cap stocks.
Naver Financial, where Naver is the largest shareholder, will have Dunamu, the operator of Upbit, the country's No. 1 virtual asset exchange. Through a stock exchange between the two companies on the 25th, it was reported that Dunamu would be incorporated into Naver Financial's 100% subsidiary. Naver virtually admitted its push through an explanatory disclosure, and its stock price soared more than 11% on the same day alone.
A "big hand" institutional investor also reacted. Institutional investors, who sold Naver the seventh-largest amount among all stocks until the day before the report, bought a net 549 billion won over two days from the 25th to the 26th, the most among all stocks.
Sales of profit-taking were of course strong. Individual investors net sold Naver 259 billion won (25.6 million U.S. dollars) for two days from May 25 to May 26, the second largest seller after Samsung Electronics. During the same period, foreigners also sold Naver (232 billion won) the most after SK Hynix.
Naver's trading volume and transaction volume reached a one-year high on Wednesday due to brisk changes. According to Naver Pay's My Asset Service, 86,720 Naver investors spent 270,064 won on average as of Friday. Their average return is -5.02% of the total.
Naver, which was the main player of the "Donghak Ant Movement" in 2021, was once called the "national democracy" by soaring to the 400,000 won range, but its stock price has fallen since then, falling to the 150,000 won range in August. It had dreamed of taking a leap forward again in June this year, rising to 295,000 won, but it showed a box-office trend again in July and August, moving sideways in the early 200,000 won range.
Competitor Kakao (035720) was also relatively marginalized when it soared due to the artificial intelligence (AI) boom and favorable factors for stablecoins. Kakao, which rose together with Naver in June, rose nearly 8% for a month as good performance and artificial intelligence service expectations were concentrated last month. It compares with Naver's 9% drop in the same period.
The securities industry believes that the big deal will lead to an opportunity for Naver to increase its corporate value. In particular, it is expected to stand out in the digital asset sector centered on stablecoins, holding Dunamu, which boasts an unrivaled No. 1 share in the virtual asset exchange industry, as its subsidiary.
An Jae-min, a researcher at NH Investment & Securities, predicted, "Not only Naver Financial but also Naver's overall corporate value will rise in that Naver Financial is expected to improve its profit and loss, it can expand its new business called the virtual asset exchange, and it will be possible to actively enter the stable coin business."
Meanwhile, Kakao's stock price plunged more than 6% the previous day due to the dilemma over the existing stake in the tree and the aftermath of the Kakao Talk reorganization. Currently, Kakao holds shares of the tree through Kakao Investment and Kakao Ventures.
Reporter Han Yu-ju ([email protected] )
Upbit and Naver
The merger of Korea’s leading online shopping powerhouse and the nation’s top cryptocurrency exchange.
While the governance structure remains unclear, this appears to be one of the most significant developments in recent times.
If they can generate real synergy, this could mark the birth of a massive enterprise that spans online and offline commerce, as well as stablecoins.
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