Mirae Asset seeks growth through Korbit purchase

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Mirae Asset to acquire Korbit stake

Mirae Asset moves for majority control

According to a regulatory filing released Friday, Mirae Asset Consulting plans to purchase 26.9 million Korbit shares for 133.48 billion won (approximately $93 million). The transaction will be paid entirely in cash and, if completed, will give the firm controlling ownership of the exchange.

Mirae Asset said the purpose of the acquisition is “to secure future growth drivers through digital-asset (virtual-asset) businesses,” signaling a strategic effort to expand beyond conventional financial services. The board approved the decision on Feb. 5, though discussions about a potential sale had surfaced in earlier reports last year.

The deal has not yet closed. Settlement will take place once contractual conditions are satisfied, with completion expected within seven business days after those requirements are met.

Korbit is currently primarily owned by NXC and its subsidiary Simple Capital Futures, which together hold roughly 60.5% of the exchange. SK Square controls an additional 31.5% stake.

Profit turnaround and market position

The transaction comes as Korbit returns to profitability. In its most recent fiscal year, the exchange reported 8.7 billion won in revenue and 9.8 billion won in net profit, reversing losses recorded in prior years.

Korbit operates under South Korea’s strict virtual asset regulatory framework and holds a full operating license along with established compliance infrastructure. That status makes it a potentially attractive platform for a major financial institution seeking regulated exposure to the crypto market.

Despite its regulatory standing, Korbit remains a relatively small player compared with domestic rivals. Data from CoinGecko show that of approximately $3.64 billion in combined 24-hour trading volume across South Korean exchanges, Korbit accounted for about $59.9 million. By contrast, market leader Upbit recorded roughly $2.16 billion, while Bithumb handled around $1.36 billion in daily trading.

Industry consolidation underway

The deal reflects a broader consolidation trend in South Korea’s crypto sector. Other exchanges, including Coinone, have reportedly explored potential sales of controlling stakes as founders consider exits.

If finalized, Mirae Asset’s acquisition of Korbit would underscore the growing convergence between traditional finance and digital asset platforms in one of Asia’s most active crypto markets.

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