The Korea Fair Trade Commission (KFTC) is reportedly ready to impose tougher regulations on Dunama – the parent company of the country’s largest crypto exchange, Upbit – by classifying it as a “large enterprise.” The authority deems firms with more than 5 trillion won ($4.03 billion) assets subject to stricter regulatory scrutiny, requiring them to “disclose information on major intracompany dealings, board decisions, and shareholders.”
Dunamu held 10.15 trillion won (US$8.19 billion) as its assets in 2021, slightly above the 10-trillion threshold that exempts businesses from being categorized as “companies subject to limitations on mutual investment.”
Besides being barred from conducting mutual investment, the giant will face other restrictions on debt guarantees, cross-shareholding, etc.
With only 1.38 trillion won of assets under its management as of 2020, Dunaum’s rapid growth last year attracted attention from the Korean watchdogs.
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