Mirae Asset Group is in talks to acquire Korbit, South Korea’s fourth-largest cryptocurrency exchange, in a deal valued at roughly 100 billion to 140 billion Korean won ($70 million to $100 million).
The potential acquisition would be led by Mirae Asset Consulting, a non-financial affiliate of the group, which has reportedly signed a memorandum of understanding with Korbit’s major shareholders, according to a Sunday report from The Chosun Daily.
Korbit is primarily owned by NXC and its subsidiary Simple Capital Futures, which together hold about 60.5% of the exchange. SK Square owns an additional 31.5% stake.
Korbit holds a full operating license and compliance infrastructure, which could make it an attractive entry point for a major financial group seeking regulated exposure to digital assets.
Related: South Korean regulator misses stablecoin bill deadline: What’s next?
Korbit’s crypto trading volume
According to CoinGecko data, Korbit’s share of South Korea’s crypto trading market remains marginal compared with its domestic peers. Of the roughly $1.21 billion in total 24-hour trading volume across six Korea-based exchanges, Korbit accounted for just $5.75 million, or well under 1% of total activity.
By contrast, Upbit dominated the market with more than $768 million in daily volume, followed by Bithumb at nearly $298 million and Coinone at about $135 million.
Related: South Korea to impose bank-level liability on crypto exchanges after Upbit hack: Report
Naver moves to acquire Upbit operator Dunamu
As Cointelegraph reported, Naver Financial plans to acquire Dunamu, the operator of Upbit, through a stock-swap transaction valued at about 15.1 trillion won ($10.3 billion). Under the deal, Naver Financial will issue 87.56 million new shares to Dunamu shareholders, making Dunamu a wholly owned subsidiary.
Shareholders of both firms will vote on the transaction on May 22, 2026, with the share exchange scheduled for June 30. The deal remains subject to regulatory approvals.
Naver Financial’s plan to acquire Dunamu was first revealed in September. At the time, it was reported that Naver Financial would launch a Korean won-backed stablecoin project, along with other digital finance initiatives, following the acquisition.
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