Mirae Asset Consulting Becomes Korbit’s Largest Shareholder After Acquisition Closes
Key Takeaways
- •Mirae Asset Consulting completed its acquisition of a 92.06% stake in Korbit for 133.48 billion won, approximately $91 million, making it the exchange's largest shareholder.
- •The deal was initially agreed in February and required regulatory procedures before closing as part of Mirae Asset's expansion into digital asset businesses.
- •Korbit stated that its operating entity remains unchanged and that trading, deposits, and withdrawals will continue without interruption following the ownership transition.
- •Customer assets will remain segregated in accordance with South Korea's Virtual Asset User Protection Act, which governs how virtual asset service providers handle user funds.
- •Korbit is one of only five crypto exchanges in South Korea authorized to support trading against the won, making ownership changes at such platforms significant for market participants and regulators.
Mirae Asset Consulting, an affiliate of one of South Korea’s largest financial groups, has completed its acquisition of a controlling stake in Korbit, making it the largest shareholder of the South Korean crypto exchange after the completion of regulatory procedures.
Korbit said in a Thursday announcement on its website that the exchange’s operating entity remains unchanged following the transaction. It also said trading, deposits and withdrawals will continue without interruption, signaling that the ownership change does not alter day-to-day exchange access for users.
The company added that customer assets will remain segregated in accordance with South Korea’s Virtual Asset User Protection Act, which sets requirements for the handling and protection of user assets by virtual asset service providers.
Mirae Asset Consulting agreed in February to acquire a 92.06% stake in Korbit for 133.48 billion won, or about $91 million, as part of an expansion into digital asset businesses. The deal required regulatory procedures before it could close.
Korbit is one of South Korea’s five crypto exchanges that support trading against the won. Local crypto exchanges must secure partnerships with banks to provide fiat on- and off-ramp services for users, making banking access a key operating requirement for platforms serving Korean retail traders.
South Korea remains one of the world’s most active retail crypto markets. Exchanges in the country generate a significant portion of their revenue from trading fees, so ownership changes at won-supported platforms are closely watched by market participants and regulators.
