Mirae Asset Becomes Top Owner of Korbit After Buyout
Mirae Asset Consulting closed a 92.06% acquisition of Korbit for 133.48 billion won ($91 million), becoming the exchange’s largest shareholder after regulatory approval.
Financial firm Mirae Asset Consulting completed the purchase of a 92.06% stake in South Korean crypto exchange Korbit, paying 133.48 billion won (about $91 million). The agreement, first reached in February, closed after Mirae Asset Consulting finished required regulatory procedures.
Mirae Asset Consulting, an affiliate of one of South Korea’s largest financial groups, described the acquisition as part of plans to expand into digital asset businesses.
Korbit released a statement that its operating entity “remains unchanged” and that trading, deposits and withdrawals will continue without interruption. The exchange noted customer assets are kept separate in line with South Korea’s Virtual Asset User Protection Act.
Korbit is one of five domestic exchanges that offer trading in Korean won. South Korean platforms must secure partnerships with banks to provide fiat on- and off-ramps, which affects how exchanges operate. Retail trading is a major source of revenue for these platforms, with trading fees accounting for a large share of income.
The 133.48 billion won price equals the amount paid for the majority stake. Korbit did not report any changes to management or business operations beyond the equity transfer.
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