Mirae Asset Acquires Korbit for $96 Million Regulatory Infrastructure
South Korea's largest financial conglomerate, Mirae Asset Group, has completed its acquisition of Korbit, the country's oldest cryptocurrency exchange. The deal gives Mirae Asset Consulting a controlling stake in Korbit, reaching 91.73% on July 22, 2026, and a full acquisition of 97.15% by July 24-25, 2026.
The total investment in the transaction reached ₩141.4 billion ($96 million), but Mirae Asset didn't acquire Korbit's trading volume - it acquired the exchange's regulatory infrastructure, including a VASP license and a banking partnership with Shinhan Bank.
Korbit was founded in 2013 as one of South Korea's first bitcoin-to-Korean won exchanges. Despite its early backing from notable investors and compliance architecture, Korbit has struggled to compete with larger exchanges like Upbit and Bithumb, holding only about 0.5% of the country's crypto trading activity.
Mirae Asset founder Park Hyeon-joo framed the acquisition in historical terms, writing that 'inheriting the baton from that era' requires a new chapter in finance. He emphasized the importance of compliance and trust in his letter to Korbit employees.