Naver Financial’s schedule to bring Dunamu into the company as a wholly owned subsidiary has been delayed again. The shareholders’ meeting and share swap date were each pushed back by about 3 months, moving the expected deal completion to year-end.

Naver said on Monday it changed the share swap schedule for its subsidiary Naver Financial through a revised disclosure. It said the reason for the revision was changes to the share swap schedule and other items.

The disclosure said the scheduled date for Naver Financial’s shareholders’ meeting was changed to Nov. 19, 2026 from Aug. 18, 2026. The share swap date was delayed to Dec. 31 from Sept. 30.

The schedule related to appraisal rights was also adjusted. The period for receiving notices of opposition was changed to Nov. 4 to 18, and the period for receiving appraisal-rights requests to Nov. 19 to Dec. 9. The scheduled payment date is Dec. 16.

The share swap is a procedure for Naver Financial to make Dunamu a wholly owned subsidiary. Naver Financial explained that the purpose of the share swap was to bring Dunamu into the company as a wholly owned unit and secure future growth drivers based on digital assets.

Licensing and approvals remain a variable until the transaction is completed. Naver Financial and Dunamu must obtain related government approvals, including merger approval under the Fair Trade Act, approval for a change in Naver Financial’s largest shareholder and a dual-business report under the Credit Information Act, and acceptance of a report on a change in Dunamu’s largest shareholder under the Act on Reporting and Using Specified Financial Transaction Information.

A Dunamu official said, "We are faithfully explaining the purpose of the combination to secure global competitiveness in a time of transition in the digital finance paradigm."