Mirae Asset Group Plans to Acquire South Korean Crypto Exchange Korbit for Around $100 Million

According to reports, Mirae Asset Group is in negotiations to acquire Korbit, the fourth largest crypto exchange in South Korea, with a valuation of approximately 100 billion to 140 billion Korean won, equivalent to around 70 million to 100 million US dollars. The potential acquisition is said to be led by Mirae Asset Consulting, a non-financial subsidiary of Mirae Asset Group, which has signed a memorandum of understanding with Korbit's major shareholders.

Public information shows that Korbit is currently owned by NXC and its subsidiary Simple Capital Futures, holding a combined 60.5% stake, while SK Square holds about 31.5%. Korbit is reported to hold a complete operating license and compliance system, making it attractive to large financial groups looking to enter the digital asset field in a compliant manner.

However, in terms of market share, Korbit has limited presence in the South Korean crypto trading market. CoinGecko data shows that out of a 24-hour total trading volume of approximately 1.21 billion US dollars across six major exchanges in South Korea, Korbit only contributes around 5.75 million US dollars, accounting for less than 1%. In contrast, Upbit, Bithumb, and Coinone hold significant advantages. Previous reports also indicate that Naver Financial plans to acquire the operator of Upbit, Dunamu, through an equity swap, demonstrating that traditional financial and tech giants in South Korea are continuing to strengthen their presence in the crypto asset sector.

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