South Korea's KFTC Approves Mirae Asset's $97.9M Acquisition of Korbit Crypto Exchange

South Korea's Fair Trade Commission approved Mirae Asset Consulting's acquisition of 92.06% of cryptocurrency exchange Korbit on July 9, marking the first time a major Korean financial group's subsidiary has been permitted to acquire a licensed digital asset exchange. The company is paying 133.4 billion won, approximately $97.9 million, for 26.9 million Korbit shares.

The KFTC based its approval on Korbit's limited market presence. Korbit ranks fourth among South Korea's five licensed won-denominated exchanges and accounts for roughly 0.5% of national trading volume, according to regulatory filings and data sources. By comparison, Upbit controls approximately 69% of the market, Bithumb holds about 28%, Coinone sits near 2%, and Gopax trails at roughly 0.1%. A commission official stated that Korbit's liquidity level is "insufficient to cause anticompetitive effects."