Korea's FTC clears Mirae Asset's ₩133.4B buy of crypto exchange Korbit

What's the deal? South Korea's Fair Trade Commission approved Mirae Asset ConsultingDealroom has a profile for this one. Try Dealroom →'s acquisition of Korbit, one of the country's won-based virtual asset exchanges. Mirae Asset Consulting will take a 92.06% stake for 133.4 billion won. The regulator said on 9 July 2026 the deal is "not likely to limit competition in related markets."

Who's involved? Mirae Asset Consulting is a non-financial subsidiary of Mirae Asset Group, whose core affiliates include Mirae Asset Securities and Mirae Asset Management. Despite the structure, the market treats the deal as a financial group absorbing a crypto exchange.

What's the endgame? The combination opens the door to a service linking Mirae Asset's listed-stock investment platform with Korbit's exchange. A future virtual asset-based exchange-traded fund could add synergy with the group's asset management affiliates.

What could go wrong? The tie-up brushes against Korea's "gold price separation" principle, which has kept the financial and virtual asset industries apart. Critics argued that direct financial-sector ownership of an exchange could conflict with that rule.

Why did it clear? The FTC concluded the deal could ease the monopoly structure of the exchange market rather than harm it. In 2025 UpbitDealroom has a profile for this one. Try Dealroom → held about 69% of trading volume, Bithumb 28%, Coinone 2%, and Korbit just 0.5% — leaving little room for competition concerns. A softer regulatory stance on virtual assets also weighed on the decision.

The signal: Korea's traditional financial giants are moving into crypto through acquisition, and regulators are opening the gates. Rather than protect the wall between finance and virtual assets, the FTC is betting that established players can loosen a market dominated by Upbit.

Read more: Maeil Business Newspaper

Image credit: Generated with Gemini