Upbit's parent company Dunamu's operating profit increased by 85% year-on-year last year

PANews March 28th news, according to The block, Dunamu, the company behind South Korea's largest cryptocurrency exchange Upbit, tripled its cash dividend to common shareholders compared with the previous year after reporting a sharp increase in profits last year. At the shareholders' meeting, Dunamu approved last year's financial statements, with dividends of 8,777 won ($5.99) per share of common stock, compared with dividends of 2,937 won ($2) per share the previous year. According to official disclosures, the company has allocated a total of nearly 300 billion won (USD 204.5 million) in the "Allocation Retaining Essence" project for cash dividends.

Upbit's parent company's operating profit in 2024 increased by 85.1% year-on-year to approximately 1.18 trillion won (USD 809 million). The full-year net profit increased by 22.2%, to 983.8 billion won (USD 671 million). "The growth in sales and operating profits appears to be affected by factors such as Bitcoin halving and favorable investment sentiment," Dunamu said.