South Korea’s Dunamu Sees Crypto Revenue Slowdown in 2025

South Korea crypto firm Dunamu reports $1.03B revenue in 2025 as profits fall due to weak trading volumes and regulatory changes.

South Korea’s crypto market faced a clear slowdown in 2025. Dunamu, operator of Upbit, reported weaker financial results. This resulted in revenue of KRW 1.56 trillion, or $1.03 billion. However, there was a decline of 10.04% on a year-over-year basis, reflecting a lower crypto trade volume.

Crypto Market Slowdown Hits Dunamu Earnings Hard

Dunamu’s operating profits fell significantly, reaching KRW 869.2 billion for the year. This represents a drop of 26.7% from the previous year. In addition, the net profits fell by 27.9%, reaching KRW 708.9 billion. The company attributes this to lower crypto trade volumes.

Further, the crypto trade volumes in South Korea, where the company operates, fell. The average daily transaction volumes fell by nearly 15% compared to the previous year, or 2024. This resulted from the global economy’s slowdown and lower investor enthusiasm for crypto assets.

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Additionally, the crypto market in South Korea evolved from the previous speculative behavior. In the past, small investors traded crypto assets frequently in search of quick profits. However, this behavior slowed down in 2025, resulting in lower crypto trade volumes.

Finally, there was pressure on crypto companies in South Korea. The Virtual Asset User Protection Act became fully active in mid-2024. As a result, crypto companies in the country faced a number of challenges.

Capital Outflows and Strategy Shift Shape Future Plans

Another big reason was that a lot of money left South Korea. About $60 billion worth of crypto assets moved to private wallets and platforms outside the US. This shift mainly occurred during the second half of 2025.

Traders also moved money to other countries to find better deals and more advanced products. Domestic platforms didn’t offer services like derivatives, which made it harder for investors to choose. Because of this, a lot of users chose international exchanges because they were more flexible.

The famous “Kimchi Premium” also went away during the year. Before, the prices of cryptocurrencies in South Korea were higher than the global average. But this gap has closed, making it less appealing for people to trade locally.

In response, Dunamu began to look into new ways to grow. According to reports, Naver Financial wanted to buy Dunamu for $10.3 billion. But as of March 2026, the stock swap process was running behind schedule.

The company also said it would work to expand its business around the world. It wants to find new business opportunities in places other than South Korea. This plan might help make up for slower growth in the crypto sector at home.

Dunamu’s 2025 results show how the crypto industry as a whole is changing. Changes in regulations and less trading activity are still affecting market trends. So, recovery in the future may depend on new ideas, expanding into new markets, and better liquidity conditions.

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