Npay Acquires Unlisted Stock Trading Platform “Securities Plus Unlisted,” Driving Market Institutionalization and Revitalizing the SME and Startup Ecosystem

Npay Acquires Unlisted Stock Trading Platform "Securities Plus Unlisted," Driving Market Institutionalization and Revitalizing the SME and Startup Ecosystem

- Acquired a stake in "Securities Plus Unlisted," Korea's largest unlisted stock trading platform, to lead the market in line with the institutionalization of the unlisted stock trading market through the acquisition of an "OTC brokerage" license

- Contributing to the development of high-tech industries, such as startups and small innovative companies, and the vitalization of the venture ecosystem, while exploring ways to link with existing financial investment content, such as Npay Securities

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September 11, 2025

NAVER Pay (Npay, CEO Park Sang-jin) announced on September 11 that it acquired a 70% stake in the unlisted stock trading platform "Securities Plus Unlisted Co., Ltd. (hereinafter "Securities Plus Unlisted")" for approximately KRW 68.6 billion.

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Npay plans to lead the institutional establishment of the unlisted stock trading market through Securities Plus Unlisted and contribute to the cultivation of advanced industries, such as startups and small innovative companies, and to the revitalization of the venture ecosystem.

Npay and Securities Plus Unlisted plan to proceed with licensing for the "Over-the-Counter (OTC) Trading Brokerage Business" that financial authorities intend to introduce in line with the institutionalization of the unlisted stock trading market. Securities Plus Unlisted has been operating as an innovative financial service designated by the Financial Services Commission since 2020.

By obtaining the "OTC Trading Brokerage Business" license through Securities Plus Unlisted, Npay plans to drive the revitalization of the domestic unlisted stock trading market and take the initiative to enhance value for market participants and protect investors. To this end, Npay plans to increase information transparency for unlisted companies, ultimately establishing a virtuous cycle in which startups and small innovative companies can raise investment funds based on more accurate value assessments. This is expected to stimulate venture capital supply and the growth of the venture innovation ecosystem.

Securities Plus Unlisted is Korea's largest unlisted stock trading platform, recording 1.67 million cumulative subscribers, approximately 830,000 cumulative transactions, and KRW 1.9 trillion in cumulative transaction value as of August. Npay currently operates "Npay Securities," a financial investment content platform with 17 million monthly active users (MAUs), and plans to explore synergy opportunities through this acquisition, including expanding its service scope to provide unlisted stock-related content. With this equity acquisition, Npay will secure the position of the largest shareholder and management control of Securities Plus Unlisted.

Npay announced, "This acquisition reflects our commitment to expanding our role in creating innovation and user value in line with domestic fintech growth and policy directions," adding, "We will actively explore synergies with various financial services, including the existing Npay Securities, not only to stabilize the unlisted stock trading market that is currently being institutionalized but also to foster advanced industries and revitalize the venture ecosystem."