Crypto▲ Bullish
Mirae Asset Injecting 50B Won Into Korbit Operator After Takeover
Mirae Asset Group is injecting 50 billion won into Digital X, the operator of Korbit, less than a month after completing its takeover of the South Korean crypto exchange.
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Mirae Asset Group is pumping 50 billion won, about $35 million, into the company that runs South Korean crypto exchange Korbit. The capital injection comes less than a month after Mirae completed its takeover.
Digital X's board signed off on the increase on Aug. 12, News1 reported Thursday. Payment is due Aug. 27.
Digital X will issue 10,078,614 common shares at 4,961 won each through a third-party allotment. All of them go to Mirae Asset Consulting, the affiliate that already owns 97.15% of the company. Digital X said the money will improve its financial structure and cover immediate management funding needs.
The move follows Mirae Asset Consulting's July acquisition of Korbit. The group secured regulatory clearance and raised its ownership to 97.15%.
Mirae initially agreed to buy 92.06% of Korbit for roughly 133.48 billion won. It later picked up additional shares, pushing the total acquisition cost to about 141.4 billion won. South Korea's Fair Trade Commission approved the deal on July 9, concluding it was unlikely to restrict competition. The regulator pointed to Korbit's roughly 0.5% share of the domestic crypto trading market in 2025.
This 50 billion won injection is different from the acquisition spending. The money goes into Digital X itself, not to former shareholders. It gives the exchange operator fresh capital as Mirae starts executing its post-acquisition plan.
The stated goal of strengthening Digital X's finances comes after years of losses at Korbit. The exchange generated about 9.8 billion won in operating revenue during 2025. It recorded a 15.4 billion won operating loss, even though revenue rose from the prior year.