Mirae Asset Group is set to acquire Korbit, Korea’s fourth-largest cryptocurrency exchange. On the 28th, industry sources report that Mirae Asset Group signed a memorandum of understanding to acquire the majority stakes held by Korbit’s top shareholder NXC (60.5%) and second-largest shareholder SK Planet (31.5%). The deal size is estimated at KRW 100–140 billion, with the buyer routed through Mirae Asset Consulting, Mirae Asset’s non-financial affiliate, reflecting Korea’s law that separates financial and virtual asset activities.
Rather than directly operating the exchange, the group aims to enter the market through a non-financial subsidiary. In a broader context where global firms like BlackRock and Coinbase are blurring the line between traditional and digital assets, Mirae Asset’s approach appears tailored to domestic regulatory conditions while pursuing active participation in the digital asset market.
The move is expected to intensify competition in Korea’s exchange sector. Dunamu, operator of the market-leading Upbit, has become a 100% subsidiary of Naver Financial after a stake exchange with Naver, highlighting the growing clash between IT/platform players and traditional financial capital as the market evolves.
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