Mirae Asset Group is reportedly in advanced negotiations to acquire a controlling stake in Korbit, with market estimates placing the deal around 100–140 billion won (about $70 million–$100 million, with some estimates reaching $140 million). The talks, led by Mirae Asset Consulting under a memorandum of understanding with Korbit’s principal shareholders, would transfer control of roughly 92% of the exchange, although neither side has confirmed the terms.
Sources describing the negotiations say the transaction is structured as a share purchase that consolidates existing stakes held by NXC and SK Planet. NXC is described as the larger holder and SK Planet as the smaller, and the proposed path would shift effective control to the Mirae Asset affiliate through the MOU framework rather than through a newly built greenfield platform.
According to The Chosun Daily, Mirae Asset Group is in talks to acquire Korbit, South Korea’s fourth-largest crypto exchange. Mirae Asset Consulting has signed an MOU with major shareholders. Korbit is currently ~60.5% owned by NXC and subsidiaries, with SK Square holding ~31.5%.…
— Wu Blockchain (@WuBlockchain) December 28, 2025
Strategic rationale and why exchanges are attractive entry points
Mirae Asset’s reported rationale is to fold digital-asset capabilities into a broader services mix by acquiring an established domestic exchange. By targeting Korbit, the group would gain immediate access to local fiat rails and client-facing infrastructure, including won-based on/off-ramp services and existing banking relationships that support fiat-crypto flows. A fiat on/off-ramp is the mechanism that converts between local currency and cryptocurrencies to enable deposits and withdrawals for retail and institutional users.
For institutional entrants, buying an operating exchange can reduce time-to-market. Acquiring an exchange with an operating license and compliance systems lowers the cost and complexity of building regulatory permissions from scratch, and market observers see this as a potential catalyst for consolidation among smaller venues facing rising compliance burdens. In that framing, institutional capital and more formal risk-management practices can also support confidence in regulated platforms. The acquisition thesis is essentially a shortcut to infrastructure, distribution, and compliance readiness.
Regulatory approvals are the execution risk center
The negotiations remain contingent on standard due diligence and approvals from South Korean regulators, including competition and financial authorities. Regulatory review could introduce antitrust considerations or require operational adjustments to meet the bank-like compliance expectations now applied to domestic exchanges. That creates meaningful execution risk. Approvals could delay, reshape, or block the deal depending on competition assessments and supervisory scrutiny outcomes.
The proposed transaction would represent a notable institutional move into South Korea’s crypto infrastructure via acquisition rather than organic build. The strategy would lower entry barriers while placing the buyer directly inside a stringent regulatory review process that will determine whether control can actually transfer.
