South Korea’s Fair Trade Commission (FTC) has approved Mirae Asset Consulting’s acquisition of crypto exchange Korbit, removing a major regulatory hurdle for what would become the first acquisition of a domestic digital asset exchange by an affiliate of a financial group.
The decision clears the way for Mirae Asset Group to move forward with its planned purchase of a 92.06% stake in Korbit for about 133.5 billion won ($98 million). The deal, announced in February, will make Mirae Asset Consulting the exchange’s largest shareholder once the remaining approval process is completed.
South Korea’s Largest Financial Giant @MiraeAssetSec Secures Approval to Acquire @Korbit_exchange
Marking a monumental shift in South Korea’s digital asset landscape, Mirae Asset Group—the nation’s largest asset management and financial conglomerate—is officially entering the… pic.twitter.com/fc5krtEsQO
— BLOCKMEDIA(블록미디어) (@with_blockmedia) July 9, 2026
Why did the Fair Trade Commission approve the deal?
The FTC said its review found no significant concerns that the acquisition would reduce competition in South Korea’s crypto exchange market.
As part of the transaction, Mirae Asset Consulting will acquire about 26.91 million Korbit shares, thereby purchasing the full stakes held by the existing major shareholders, NXC and SK Planet.
The regulator noted that Korbit accounted for only 0.5% of the country’s digital asset trading volume last year, placing it fourth behind Upbit with 69%, Bithumb with 28%, and Coinone with 2%. Based on its market assessment, the commission concluded that the takeover is unlikely to substantially restrict competition.
ALSO READ: South Korean Exchanges Upbit and Bithumb Expand KRW Markets with Canton and Arcium Listings
What does the acquisition mean for Mirae Asset’s crypto plans?
Mirae Asset Consulting previously said the acquisition is aimed at securing future growth opportunities in digital assets.
The deal gives Mirae Asset Group a foothold in South Korea’s crypto exchange market while creating a platform to expand into digital asset services. Industry observers believe the acquisition could support future businesses involving security token offerings (STOs), real-world asset (RWA) tokenization, and other blockchain-based financial products.
Mirae Asset Consulting, a non-financial affiliate of Mirae Asset Securities, is leading the acquisition as part of the transaction structure. Meanwhile plans to use its Hong Kong business as the starting point for a tokenized investment platform, with a goal of offering blockchain-based versions of traditional financial assets within the next three years.
What comes next for the Korbit takeover?
Although the FTC has approved the business combination, the transaction is not yet complete.
The acquisition must still satisfy contractual conditions and undergo any remaining procedures required under South Korean regulations. Market participants are also watching how financial authorities will oversee relationships between financial institutions and virtual asset service providers, including governance and internal control requirements.
Korbit said the approval marks an important milestone, describing it as the first acquisition of a domestic crypto exchange by an affiliate of a financial group. The exchange added that it expects the transaction to strengthen competition through service innovation.
The company said the remaining procedures will move forward in stages, although a completion timeline has not been announced.
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