Mirae Asset Consulting, part of the South Korean financial services firm Mirae Asset Group, intends to acquire a 92.06% stake in the local cryptocurrency exchange Korbit. This acquisition involves the purchase of 26.9 million shares, amounting to 133.48 billion won (approximately $93 million). The board approved this decision on February 5, with the deal expected to close within seven business days of meeting contractual conditions, as confirmed in a recent regulatory filing.
In its latest fiscal year, Korbit achieved a revenue of 8.7 billion won and a net profit of 9.8 billion won, marking a recovery from previous losses. Currently, the exchange is primarily owned by NXC and Simple Capital Futures, who collectively hold about 60.5%, while SK Square owns an additional 31.5% stake.
Despite its recent profitability, Korbit remains significantly smaller in trading volume compared to leading platforms in South Korea. With daily trading activity of about $59.9 million, it trails behind Upbit and Bithumb, which dominate the market with volumes of approximately $2.16 billion and $1.36 billion, respectively.