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Mirae Asset Acquires 92% Stake in Korbit, Secures Control
Mirae Asset Consulting completed the acquisition of a 92% stake in Korbit, with plans to increase ownership to 97%. The deal is the first time a traditional finance affiliate in South Korea has bought a domestic crypto exchange.
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Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group, has completed the acquisition of a controlling stake in the South Korean cryptocurrency exchange Korbit. The deal, approved by the Fair Trade Commission, makes Mirae Asset the largest shareholder.
The firm now holds a 92.06% stake in Korbit, according to a regulatory filing. Mirae Asset said it plans to buy an additional 5.32 million won worth of shares, lifting its ownership to 97.15%. That transaction is expected to close in the coming days, local reports said.
The acquisition marks the first time a traditional finance affiliate in South Korea has purchased a domestic crypto exchange. The Fair Trade Commission's approval sets a regulatory precedent for such deals.