South Korea’s dominant cryptocurrency exchange Upbit may be facing a volatile Bitcoin market, but its employees are enjoying soaring paychecks. Operator Dunamu, which handles roughly 80% of South Korea’s crypto trading volume, has been rapidly increasing staff compensation and expanding its workforce.
According to U.S.-based crypto outlet Coinlaw, Dunamu’s operating profit for the first half of 2025 reached about $400 million, up 11% from the same period last year. The company’s net profit rose 4.9% year over year to roughly $306 million.
Strong earnings have fueled a wave of pay raises. The average employee salary rose from around $44,000 in 2023 to $97,000 in the first half of 2024, and climbed further to approximately $110,000 in the first half of 2025. If this trend continues, Dunamu’s average annual salary could exceed $220,000 by year-end — far higher than the roughly $47,000average among South Korea’s four largest commercial banks.
Developers reportedly earn 15% to 20% more on average than employees in operations or administrative departments, reflecting growing demand for blockchain engineering and IT talent.
Executive compensation has also surged. Chairman Song Chi-hyung, who founded Dunamu in 2012, earned about $3.3 million in the first half of 2025 alone, making him the highest-paid financial CEO in South Korea.
As of August, Dunamu employed about 660 people, up from roughly 550 a year earlier. The company has been adding staff in areas such as risk management, overseas expansion, and compliance as it seeks to diversify its business. Despite the rapid growth, Dunamu’s turnover rate remained around 20% last year — lower than the 30% industry average, according to Coinlaw.
While Bitcoin’s price has fluctuated throughout the year, Dunamu’s financial performance underscores how a dominant crypto exchange can remain highly profitable even in a volatile market. Upbit continues to generate strong trading revenue and maintain its position as South Korea’s most influential crypto trading platform.
