Mirae Asset’s $100M Korbit Acquisition Talks Signal Major Bet on South Korea’s Booming Crypto Market

South Korea's traditional finance giants are finally waking up to the crypto gold rush—and they're bringing their checkbooks.

The Big Move

Mirae Asset, a heavyweight in the region's financial landscape, is reportedly in advanced negotiations to acquire cryptocurrency exchange Korbit. The price tag? A cool $100 million. This isn't just a casual investment; it's a strategic land grab in one of the world's most fervent digital asset markets. The move signals a pivotal shift where legacy institutions are no longer just watching from the sidelines—they're buying their way onto the field.

Why Korbit? Why Now?

Korbit isn't just any exchange; it's an early player with established infrastructure and a user base in a market known for its retail trading frenzy. For Mirae Asset, this acquisition is a direct pipeline into that ecosystem, bypassing years of regulatory navigation and platform development. It's a classic case of 'if you can't beat 'em, buy 'em'—and do it before your competitors do. The timing aligns with a period of intense growth and regulatory maturation in South Korea, where crypto is shedding its wild-west image for mainstream legitimacy.

The Ripple Effect

This deal, if finalized, will send shockwaves beyond the two companies. It pressures other traditional asset managers and securities firms to define their own crypto strategy—and fast. Will they build, partner, or acquire? The scramble for position is officially on. Expect more headlines as capital seeks a foothold in the digital economy, proving once again that in finance, the fear of missing out is a more powerful motivator than any fear of loss.

A $100 million bet might seem like pocket change to some hedge funds, but in the high-stakes poker game of financial relevance, Mirae Asset just went all-in. Let's see who calls.

TLDR

• Mirae Asset seeks to acquire Korbit, South Korea’s fourth-largest crypto exchange for $100M.
• Korbit holds full regulatory compliance, making it an attractive option for Mirae Asset.
• Korbit’s market share is low, yet its operating license adds appeal for Mirae Asset’s digital strategy.
• Naver Financial plans to acquire Dunamu, operator of the dominant Upbit exchange, for $10.3 billion.

Mirae Asset Group, through its affiliate Mirae Asset Consulting, is reportedly in discussions to acquire South Korea’s fourth-largest cryptocurrency exchange, Korbit, in a deal estimated to be worth between 100 billion and 140 billion Korean won ($70 million to $100 million). According to local media sources, Mirae Asset has signed a memorandum of understanding (MOU) with Korbit’s major shareholders, marking the first step towards the acquisition.

Korbit’s Market Position and Appeal for Mirae Asset

Despite holding a smaller market share in South Korea’s cryptocurrency space, Korbit’s full operating license and established compliance infrastructure make it an attractive target for a financial group like Mirae Asset. Korbit accounts for less than 1% of the country’s total crypto trading volume, which is relatively modest compared to other exchanges such as Upbit and Bithumb.

Korbit’s position in the market is smaller, with a reported daily trading volume of just $5.75 million out of a total $1.21 billion in daily trading volume across South Korean exchanges. By contrast, Upbit, South Korea’s largest exchange, controls over $768 million in daily trading volume. However, the appeal of Korbit lies in its regulatory compliance, a critical factor for Mirae Asset’s strategic entry into the digital asset market.

According to The Chosun Daily, Mirae Asset Group is in talks to acquire Korbit, South Korea’s fourth-largest crypto exchange. Mirae Asset Consulting has signed an MOU with major shareholders. Korbit is currently ~60.5% owned by NXC and subsidiaries, with SK Square holding ~31.5%.…

— Wu Blockchain (@WuBlockchain) December 28, 2025

As a full licensed exchange, Korbit provides the necessary infrastructure to operate within South Korea’s strict regulatory framework. This is a crucial factor for Mirae Asset Consulting, which is looking to expand into regulated digital assets.

Mirae Asset’s Strategic MOVE into Digital Assets

The acquisition WOULD be an important step for Mirae Asset Group, which has largely focused on traditional finance. Mirae Asset Consulting, a non-financial affiliate of the group, is leading the acquisition process. The move into cryptocurrency is in line with a broader global trend where financial institutions are looking to diversify their portfolios by incorporating digital assets.

With regulatory uncertainties surrounding the crypto industry in many countries, acquiring a company like Korbit that has already navigated the regulatory landscape in South Korea offers Mirae Asset a unique opportunity. A regulated exchange also ensures that the business operates within legal frameworks, reducing risks and enhancing trust with potential customers.

Key Shareholders and the Potential Deal Structure

Korbit is primarily owned by NXC, Simple Capital Futures, and SK Square. NXC and Simple Capital Futures jointly hold about 60.5% of the exchange, while SK Square holds an additional 31.5%. These stakeholders will play a pivotal role in the negotiation and finalization of the acquisition deal.

The acquisition process is still in the early stages, but the potential transaction represents a strategic shift for Mirae Asset. By acquiring a regulated platform like Korbit, Mirae Asset would gain direct access to the South Korean cryptocurrency market, despite the exchange’s relatively low market share.

Related Developments in the South Korean Crypto Market

In a related development, Naver Financial has announced plans to acquire Dunamu, the operator of South Korea’s largest crypto exchange, Upbit. This deal, which is valued at approximately 15.1 trillion Korean won ($10.3 billion), involves a stock-swap transaction and is expected to have major implications for the South Korean crypto market.

The planned acquisition of Dunamu by Naver Financial underscores the increasing interest of traditional financial institutions in the crypto sector. Both deals reflect a shift toward regulated digital asset operations as financial groups look to enter this rapidly evolving market.