Kiwoom Halts Bithumb Stake Acquisition Amid Governance Concerns

Kiwoom Securities has put its plans to acquire a stake in Bithumb on hold, citing the exchange's complex governance structure and growing financial burden.

The decision marks a shift in Kiwoom's strategy to expand into the digital asset sector. The acquisition had been under consideration as part of its broader plan to tap into the crypto market.

Bithumb, one of South Korea's largest cryptocurrency exchanges, has faced regulatory scrutiny and ownership disputes in recent years, making its corporate governance a major concern for potential investors.