Mirae Asset completes acquisition of crypto exchange Korbit
South Korean financial group Mirae Asset has completed its acquisition of local crypto exchange Korbit. The company now plans to increase its stake in the trading platform from 92% to more than 97%.
According to Korbit, Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group, has become the exchange’s largest shareholder. The company has completed all required regulatory procedures to acquire a controlling stake.
On Tuesday, Mirae Asset also filed a revised regulatory notice outlining plans to purchase an additional $5.32 million worth of Korbit shares. Once the deal is completed, its ownership will rise from 92.06% to 97.15%. Yonhap News Agency reported that the transaction is expected to close on Friday.
Korbit stressed that the exchange’s operating structure, the handling of user deposits, and the processing of personal data will remain unchanged following the change in ownership.
First deal of its kind in South Korea
Earlier this month, the transaction was approved by South Korea’s Fair Trade Commission. The antitrust regulator described it as the first case in the country in which an affiliate of a traditional financial group has acquired a crypto exchange.
Mirae Asset Consulting said the acquisition of Korbit is intended to create new growth opportunities linked to digital assets.
According to CoinGecko, Korbit ranks as South Korea’s fourth-largest crypto exchange by trading volume. Over the past 24 hours, the platform recorded about $4.3 million in trading activity. By comparison, Upbit, the country’s largest exchange, processed roughly $224.2 million over the same period.
Trading activity has fallen sharply
Until recently, South Korea was considered one of the world’s most active retail crypto markets, but the situation has changed significantly over the past year. The combined average daily trading volume on the country’s five largest exchanges — Upbit, Bithumb, Coinone, Korbit, and Gopax — fell from $2.82 billion in July 2025 to $305 million in July 2026. On average, trading volumes on individual platforms declined by about 77%, while the combined drop reached around 89%.
The downturn also reduced exchanges’ revenue from transaction fees. Korbit was even forced to sell part of its crypto reserves, disposing of 15 BTC and 60 ETH for approximately $1 million. Analysts warn that a further decline in activity could weaken liquidity on local exchanges, even though South Korea remains one of the world’s largest retail digital asset markets.
Earlier this year, it was reported that Mirae Asset Consulting planned to take control of the Korbit crypto exchange.
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