2025-12-30 04:23:12

South Korea's crypto ecosystem faces another turning point. According to sources, the fourth-largest exchange in South Korea, Korbit, is in talks to be acquired by the financial giant Mirae Asset Group(. The two parties have signed a preliminary cooperation memorandum, with the transaction valuation estimated to be between 10 billion and 14 billion RMB. Details are currently being negotiated.

Currently, Korbit's equity structure is as follows: the parent company of gaming giant Nexon, NXC, and its subsidiary Simple Capital Futures hold about 60%, while SK Square owns approximately 30%. If this deal goes through, it will mark Mirae Asset's official entry into the regulated crypto market.

There is also a background worth noting. Since 2017, South Korea has maintained strict regulations on financial institutions engaging in crypto assets. Therefore, Mirae Asset Group's approach of negotiating through its non-financial subsidiary, Mirae Asset Consulting, is seen as a workaround within the existing framework.

Korbit itself is not simple. Established in 2013, it is South Korea's earliest crypto exchange and the world's first platform to open a trading pair of Korean Won against Bitcoin. Over the years, it has accumulated a complete licensing and compliance system, which is why it has become a stepping stone for financial giants looking to enter the crypto space.

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GasFeeTherapist

· 6h ago

It's another game of acquisition by a financial giant, this time involving Korea. However, Korbit's complete license is indeed valuable, no wonder they are so focused on future assets. Korea's regulatory framework is still too restrictive, so they have to go through subsidiaries to take action. Wait, can this deal really go through? It still feels early. Korbit's foundation is indeed solid, being one of the earliest exchanges with a KRW-BTC trading pair, which is a good stepping stone. Acquiring over 100 billion RMB, I wonder if it's worth it... This workaround is actually testing the boundaries of the rules; Korean regulators have always been so strict.

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GasGasGasBro

· 6h ago

Haha, another big fish is about to eat the small fish. Now the Korean crypto scene is about to be reshuffled. --- Future Asset's move is indeed tough. Using subsidiaries to bypass regulatory frameworks, I just wonder if they will be exposed later. --- Korbit has been operating since 2013, with full licenses, making it quite sought after. But after being acquired, can it still maintain independence? I'm a bit worried. --- Buying an exchange for over 10 billion RMB feels like financial giants are all trying to scoop the bottom. --- Wait, Nexon’s parent company holds 60% of the shares. Are they really planning to exit completely this time? --- I’ve seen Korean regulations keep changing. Transactions like this only count after approval. Don’t celebrate too early. --- It’s not easy for Korbit to survive until now. But it ended up as a tool for financial giants. Is the Web3 story just going to end like this? --- Basically, it’s just big capital entering with a different disguise to keep reaping profits.

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