Mirae Asset Consulting, part of Mirae Asset Group managing over $1 trillion in assets, became the largest shareholder of South Korean crypto exchange Korbit after completing regulatory approval, the exchange announced Thursday. The transaction, first disclosed in February and approved by South Korea's Fair Trade Commission on July 9, places the country's first virtual asset exchange under control of one of its largest financial groups. Mirae Asset acquired approximately 26.9 million shares for 133.5 billion won ($91 million), securing a 92.06% stake, with plans to expand ownership to 97.15% following a revised disclosure filed July 21.
Korbit Operations Continue Under New Ownership
Korbit Co., Ltd. will continue operating the exchange following the ownership change, with existing services and user access remaining available. The exchange confirmed that user deposits and virtual assets will continue to be separated from company assets in accordance with South Korea's Act on the Protection of Virtual Asset Users. Users can continue accessing their accounts, trading assets, and using deposits and withdrawals without interruption.
The ownership change will not alter how Korbit processes personal information. The purpose and scope of personal data handling will remain the same, and users do not need to provide additional consent or take any action. Korbit launched in 2013 as South Korea's first virtual asset trading platform and now ranks fourth by volume among the five licensed venues offering won-denominated trading.
Mirae Asset Secures 97.15% Stake in Korbit
Mirae Asset Consulting acquired approximately 26.9 million shares for 133.5 billion won, giving it a 92.06% stake. The transaction involved shares previously held by NXC, the holding company behind Nexon, as well as affiliates linked to SK Group. The firm expanded that position days before the announcement, filing a revised disclosure on July 21 to buy an additional 1.59 million Korbit shares for 7.89 billion won. The purchase lifts its planned holding to 97.15% and raises the total investment to 141.4 billion won.
South Korea's Fair Trade Commission approved the transaction on July 9, allowing a subsidiary of a major domestic financial group to take control of a licensed virtual asset exchange for the first time. The regulator's decision considered Korbit's relatively small market share, with the exchange accounting for around 0.5% of South Korea's virtual asset trading volume. Mirae Asset Financial Group founder Park Hyeon-joo told employees the exchange will relaunch under the name Digital X, describing the platform as a central pillar of the group's Mirae Asset 3.0 strategy covering tokenized real-world assets, security tokens and stablecoins.
FAQ
What percentage of Korbit does Mirae Asset Consulting now own?
Mirae Asset Consulting acquired a 92.06% stake in Korbit and filed a revised disclosure on July 21 to expand its ownership to 97.15%, raising the total investment to 141.4 billion won.
When did South Korea's Fair Trade Commission approve the Korbit acquisition?
The Fair Trade Commission approved the transaction on July 9, marking the first time a subsidiary of a major domestic financial group took control of a licensed virtual asset exchange in South Korea.
