South Korea's fourth-largest exchange Korbit is rumored to be for sale? Future Asset Group is in negotiations, with an estimated valuation of 140 billion KRW.

Future Asset Group plans to acquire Korbit through a non-financial subsidiary, using a complete license to enter the crypto market, which could mark an important turning point in South Korea’s financial capital deployment in digital assets.

Future Asset Group Plans to Acquire Korbit, Signs Preliminary Cooperation Memorandum

South Korea’s fourth-largest cryptocurrency exchange, Korbit, is rumored to be acquired by financial giant Future Asset Group (Mirae Asset Group). According to The Korea Daily, Mirae Asset Group’s non-financial subsidiary, Mirae Asset Consulting, has signed a Memorandum of Understanding (MOU) with Korbit’s major shareholders. Negotiations on transaction details are ongoing, with the acquisition valuation estimated to be between 100 billion and 140 billion Korean won.

Korbit is currently jointly owned by Nexon’s parent company NXC and its subsidiary Simple Capital Futures, holding about 60.5% of the shares, while SK Square owns approximately 31.5%. If the deal goes through, it will mark Mirae Asset’s official entry into the regulated cryptocurrency market. Since South Korea has strictly restricted financial institutions from directly engaging in crypto asset activities since 2017, Mirae Asset leading negotiations through a non-financial subsidiary is seen as a key strategy to bypass regulatory frameworks.

Holding Complete Licenses and Regulatory Frameworks, a Stepping Stone for Financial Giants to Enter

Founded in 2013, Korbit is South Korea’s earliest cryptocurrency exchange and the first platform globally to offer trading between Korean won and Bitcoin. Despite its pioneering advantage, Korbit’s market share has declined significantly in recent years. According to CoinGecko data, the platform’s 24-hour trading volume is only about $9.95 million, accounting for less than 1% of the total South Korean market. In comparison, Upbit, Bithumb, and Coinone dominate the market with daily trading volumes of approximately $870 million, $370 million, and $120 million, respectively.

Image source: CoinGecko South Korea Exchange Trading Data

However, Korbit is one of the few operators with complete licenses and regulatory infrastructure, holding a Virtual Asset Service Provider (VASP) license issued by the Financial Intelligence Unit (FIU) of South Korea, and complying with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. For Mirae Asset, such a compliance foundation not only reduces regulatory risks but also provides a ready platform for future digital asset deployment. Especially in the context of global financial institutions accelerating their infrastructure in crypto, this has strategic value.

Intertwined Mergers and Acquisitions in Finance and Technology Sectors, South Korea Market Enters Integration Stage

Mirae Asset’s acquisition plan emerges as South Korea’s fintech sector accelerates integration. Just last month, Naver Financial announced it would acquire the operator of Upbit, Dunamu, through a stock swap, with a transaction scale of up to 15.1 trillion Korean won (about $103 billion), expected to be completed by June 2026. This move is widely seen as a significant signal that South Korean large corporations are officially incorporating the crypto industry into their financial landscape.

Read More
South Korea’s Upbit Rumored to Merge with Naver! Preparing for U.S. Listing, a $140 Billion Financial Giant to Be Born?

In this trend, although Korbit’s trading volume is limited, its licenses, technology, and brand foundation make it a potential target for financial capital. Analysts suggest that if Mirae Asset succeeds in acquiring Korbit, it could leverage Korbit to enter emerging markets such as stablecoins, tokenized assets (RWA), and digital securities, creating synergistic effects with traditional financial systems.

Industry Watches Acquisition Progress, May Influence New Regulatory Directions

So far, both Mirae Asset and Korbit have not officially responded to transaction details, only stating that “nothing can be confirmed at this time.” However, industry insiders generally believe that if approved, this case could set a regulatory precedent in South Korea; especially regarding whether financial groups can participate in crypto trading indirectly and legally.

Market observations indicate that the South Korean government is considering relaxing some institutional investment restrictions starting in 2026, allowing banks and securities firms to hold approved virtual asset products. This suggests that Mirae Asset’s move might be a preemptive step to capture the blue ocean market after regulatory liberalization.

As traditional giants like Naver and Mirae enter the space, South Korea’s crypto industry is entering a new phase of mergers and consolidations. This potential Korbit deal could become another key case in reshaping the landscape of crypto industry by financial capital.