Traditional finance and digital assets have come together in South Korea, as Mirae Asset has finished acquiring the local cryptocurrency exchange Korbit. This move marks a key step for institutional adoption in one of the world’s busiest trading markets.
Mirae Asset, through its affiliate Mirae Asset Consulting, has completed all regulatory steps to secure a majority stake and is now Korbit’s largest shareholder.
Expanding Beyond Control: The Push to 97% Ownership
Although gaining control was the main goal, Mirae Asset plans to go further. A regulatory filing reported by the Korea Herald shows the company has applied to buy another $5.32 million in Korbit shares.
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This additional share acquisition, slated for completion by the end of the week, will push Mirae Asset’s total equity stake in Korbit from 92.06% up to 97.15%.
For active users trading on the platform, Korbit confirmed that the operational structure will experience zero disruption. The exchange’s underlying operating entity, customer funds, fiat deposits, and personal data privacy frameworks will remain completely unchanged under the new parent ownership.
A First for South Korean Regulatory History
This deal is more than just a typical corporate buyout. It sets a new regulatory precedent.
Earlier this month, South Korea’s Fair Trade Commission (FTC) approved the deal. The regulator noted it is the first time in the country that an affiliate of a traditional financial group has acquired a commercial cryptocurrency exchange.
“The core purpose of this acquisition is to secure future growth momentum built directly upon digital asset infrastructure.” — Mirae Asset Consulting
The Competitive Landscape: Targeting Upbit’s Dominance
South Korea is one of the world’s busiest crypto trading markets. Korbit is currently the country’s fourth-largest exchange, handling about $4.3 million in daily trades.
By taking direct control of Korbit, Mirae Asset is positioning itself to challenge Upbit, the undisputed market leader that commands over $224 million in daily trading volume.
With legacy institutional capital, deep regulatory expertise, and traditional brokerage infrastructure now directly backing Korbit, the acquisition signals a broader trend: traditional investment behemoths are no longer content watching crypto from the sidelines. Instead, they are outright buying the pipes that connect Web3 to the global economy.
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