Catenaa, Tuesday, April 08, 2025-Dunamu, the parent company of South Korea’s largest cryptocurrency exchange, Upbit has announced a threefold increase in dividends for common shareholders following a sharp rise in its annual profits.
During the company’s annual shareholder meeting on Friday, it was revealed that Dunamu would distribute a dividend of 8,777 Korean won ($5.99) per common share for 2024, up from 2,937 won ($2) the previous year.
The company has allocated nearly 300 billion won ($204.5 million) for cash dividends under its earnings distribution plan.
Dunamu reported an 85.1% increase in operating profit year-over-year, reaching 1.18 trillion won ($809 million), while net profit rose by 22.2% to 983.8 billion won ($671 million).
The surge in profits was attributed to a combination of factors, including investor optimism surrounding U.S. interest rate cuts, President Donald Trump’s pro-crypto stance, and the Bitcoin halving event.
However, Upbit, despite its success, has faced regulatory challenges. The Financial Intelligence Unit (FIU) of South Korea raised concerns over Upbit’s dealings with unregistered foreign exchanges and potential violations of Know Your Customer (KYC) rules.
The FIU attempted to impose a three-month restriction on crypto withdrawals and deposits for new users, but a Seoul court temporarily suspended this order while Dunamu seeks to maintain its momentum.
Dunamu continues to deal with scrutiny as the FIU has also flagged the platform for potential KYC failures and violations of South Korea’s strict financial transaction laws.
