Mirae Asset to Buy 92% of Korean Crypto Exchange Korbit for ₩133.48B (~$93M)

Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group, has agreed to acquire a 92.06% stake in South Korean crypto exchange Korbit for 133.48 billion won (≈$93 million) in cash. The purchase covers 26.9 million shares and was approved by Mirae Asset’s board on Feb. 5; closing depends on customary conditions and is expected within seven business days after those conditions are satisfied. Mirae Asset says the acquisition aims to expand its digital-asset business and capture future growth in regulated crypto services. Korbit returned to profitability in its latest fiscal year, reporting KRW 8.7 billion in revenue and KRW 9.8 billion in net profit, reversing prior losses. Major sellers include NXC and its unit Simple Capital Futures (≈60.5%) and SK Square (31.5%). Korbit holds full regulatory licensing and compliance infrastructure, making it an attractive regulated entry point for large financial groups. Market data (CoinGecko) show Korbit’s 24‑hour volume is modest — roughly $59.9 million versus $2.16 billion for Upbit and $1.36 billion for Bithumb — underscoring Korbit’s smaller market share but potential for growth under institutional ownership. The deal comes amid consolidation signals in South Korea’s exchange market (reports that Coinone may sell a 53.4% stake). For traders: the acquisition could increase competition among Korean exchanges, shift institutional order flow into Korbit over time, and modestly boost altcoin liquidity on that platform. This is informational and not investment advice.