Mirae Asset Finalizes Takeover of South Korean Exchange Korbit

South Korean financial giant Mirae Asset has completed its acquisition of crypto exchange Korbit and plans to raise its stake further by the end of the week.

Deal Makes Mirae Asset Largest Shareholder

Korbit confirmed Thursday that Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group, completed the necessary regulatory steps to become the exchange’s controlling shareholder. The company also filed a revised regulatory request to buy additional shares worth $5.32 million, which would raise its stake from 92.06% to 97.15%, with the deal expected to close Friday.

Operations to Stay Unchanged

Korbit said its operating structure, user deposits and personal data handling will not be affected by the ownership change. Earlier this month, South Korea’s Fair Trade Commission approved the acquisition, calling it the first instance of a traditional financial group’s affiliate taking over a domestic crypto exchange.

Korbit’s Position in the Market

Mirae Asset said the move is meant to secure future growth tied to digital assets. Korbit currently ranks as South Korea’s fifth largest exchange by trading volume, with about $4.3 million in 24-hour activity, far behind market leader Upbit’s $224.2 million.