[Special Stock] Woori Technology Investment Recruits 3 Years of New K-Bank Subscribers in April Alone... Dunamu's Value Skyrockets

[Asia Economy Reporter Hyungsoo Park] Woori Technology Investment is showing strong performance. Dunamu, the operator of the cryptocurrency exchange Upbit, is reported to have made large-scale profits again in April this year, which seems to be influencing the stock price.

As of 11:14 AM on the 4th, Woori Technology Investment is trading at 10,750 KRW, up 11.86% from the previous day.

K Bank recorded 5.47 million customers at the end of last month, an increase of about 1.46 million from the previous month. The number of new customers gained in one month is comparable to the 1.57 million customers acquired over the past three years. K Bank's deposit balance surged by 3.42 trillion KRW in one month to 12.14 trillion KRW at the end of April. The loan balance increased by 850 billion KRW in one month to approximately 4.68 trillion KRW.

Although Dunamu has not disclosed its April performance, expectations are rising that the April results were also strong, judging by the increase in K Bank's customer base.

While the leading cryptocurrency Bitcoin continues to weaken, Ethereum, the second largest cryptocurrency by market capitalization, is showing a steep upward trend. Despite a situation where cryptocurrency investment could shrink, Ethereum's strength suggests that trading remains active. Moreover, Dogecoin's rebound is also contributing to the increase in trading volume.

Concerns that the increase in cryptocurrency trading volume might be temporary were among the factors that negatively affected the valuation of Dunamu, the operator of Upbit. However, with the surge in trading volume in April and Ethereum continuing its upward trend following Bitcoin, worries about a contraction in cryptocurrency investment appear to have eased. This has laid the foundation for an increase in the value of Dunamu shares held by Woori Technology Investment.

Furthermore, the fact that financial companies are showing growing interest in the cryptocurrency market is also considered a positive factor. Kookmin Bank invested last November in Korea Digital Asset (KODA), a digital asset custody company, together with blockchain companies Hashed and Hatch Labs. Shinhan Bank also made strategic equity investments in Korea Digital Asset Custody (KDAC) in January this year, along with Korbit, Blocko, and Fairsquare Lab. Hanwha Investment & Securities purchased 6.2% of Dunamu shares held by Qualcomm in February this year.