Kiwoom Securities Delays Bithumb Investment Review Until October

Kiwoom Securities has extended its review of a potential equity investment in cryptocurrency exchange Bithumb until October. The company initially considered acquiring a stake in Bithumb as part of its digital asset business expansion.

The review aims to establish a foundation for Kiwoom's digital asset business, which could include cryptocurrency trading, digital wallets, and anti-money laundering systems. No specific decision has been made at this time, but the company will disclose any concrete developments once a decision is reached or by October 27.

This move follows market speculation in June that Kiwoom Securities was considering acquiring a stake in Bithumb through a third-party allotment if the exchange proceeds with a capital increase. The transaction under discussion is understood to be a strategic equity investment rather than an outright acquisition.