Mirae Asset Group is reportedly in advanced discussions to acquire South Korea based cryptocurrency exchange Korbit in a deal that could value the platform at up to $100 million. The talks signal growing interest from traditional financial groups in gaining regulated access to the country’s digital asset market.

According to local media reports, the proposed transaction would place Korbit’s valuation between 100 billion and 140 billion Korean won, roughly translating to $70 million to $100 million. If completed, the deal would mark another major step in the convergence of South Korea’s financial sector and the crypto industry.

Mirae Asset Consulting to lead acquisition talks

The acquisition discussions are said to be led by Mirae Asset Consulting, a non financial affiliate within the Mirae Asset Group. A Sunday report by The Chosun Daily stated that the firm has already signed a memorandum of understanding with Korbit’s key shareholders, indicating that negotiations have moved beyond preliminary stages.

While neither Mirae Asset Group nor Korbit has made an official public announcement, the involvement of a Mirae affiliate suggests the group is seeking strategic exposure to digital assets without directly operating through its core financial subsidiaries.

Korbit ownership structure and shareholder interests

Korbit’s ownership is concentrated among a small group of large stakeholders. Gaming and investment company NXC, along with its subsidiary Simple Capital Futures, together hold approximately 60.5 percent of the exchange. Technology investment firm SK Square owns an additional 31.5 percent stake, making it the second largest shareholder.

Any acquisition would likely involve negotiations with these entities, particularly NXC, which has been reassessing its investment portfolio in recent years. The willingness of major shareholders to sign an MOU indicates openness to a sale at the right valuation.

Licensed exchange offers regulated entry into crypto market

One of Korbit’s main attractions is its fully licensed status and established compliance framework. The exchange operates under South Korea’s strict regulatory regime, which requires crypto platforms to meet rigorous standards on anti money laundering, customer verification and information security.

For a large financial group like Mirae Asset, acquiring a licensed exchange could provide a faster and safer entry into the digital asset space compared with building a platform from scratch. It also reduces regulatory uncertainty at a time when authorities continue to closely monitor crypto related activities.

Korbit trading volumes remain modest

Despite its regulatory credentials, Korbit remains a relatively small player in South Korea’s highly competitive crypto exchange market. Data from CoinGecko shows that Korbit’s 24 hour trading volume stands at around $5.75 million.

This figure represents well under 1 percent of the roughly $1.21 billion in daily trading volume across six major Korean exchanges. Market leader Upbit dominates with more than $768 million in daily volume, followed by Bithumb at nearly $298 million and Coinone at about $135 million.

The gap highlights the challenges Korbit faces in attracting traders, but it also suggests potential upside if backed by a deep pocketed financial group with strong brand recognition.

Naver Financial targets Upbit operator Dunamu

Mirae Asset’s reported interest in Korbit comes as other major Korean firms pursue similar moves. Naver Financial has announced plans to acquire Dunamu, the operator of Upbit, through a stock swap transaction valued at approximately 15.1 trillion won, or $10.3 billion.

Under the proposed deal, Naver Financial would issue 87.56 million new shares to Dunamu shareholders, effectively making Dunamu a wholly owned subsidiary. Shareholders from both companies are scheduled to vote on the transaction on May 22, 2026, with the share exchange expected to take place on June 30, subject to regulatory approvals.

The plan was first revealed in September, alongside reports that Naver Financial intends to launch a Korean won backed stablecoin and expand its digital finance offerings following the acquisition.

Growing institutional push into digital assets

Taken together, these developments point to a broader shift in South Korea’s financial landscape. Large asset managers and technology driven financial firms appear increasingly willing to invest in crypto infrastructure, particularly exchanges with established compliance records.

If Mirae Asset proceeds with the Korbit acquisition, it would further underline the role of digital assets as a strategic priority rather than a fringe experiment for traditional institutions.