South Korean financial conglomerate Mirae Asset is exploring a potential acquisition of local cryptocurrency exchange Korbit, according to a report from the Korea Times.
The discussions reportedly centre on Mirae Asset acquiring a 92% stake in Korbit for up to 140 billion won, equivalent to about $97 million at current exchange rates.
Industry officials cited in the report said the talks remain ongoing and have not yet resulted in a final agreement between the parties involved.
Mirae Asset is headquartered in Seoul and operates across asset management, wealth management, investment banking, and insurance services.
The proposed deal would mark Mirae Asset’s first direct entry into the cryptocurrency sector, signalling a strategic shift beyond traditional finance.
The move reflects growing interest among established financial institutions in digital asset infrastructure amid evolving regulatory clarity in South Korea.
An unidentified industry official said the interest aligns with long-standing views held by Mirae Asset founder Park Hyeon-joo.
Korbit has historically had a limited presence, but Mirae Asset Financial Group’s decades of expertise could allow it to pursue a differentiated strategy.
The official said.
The same official noted that Park has repeatedly stressed the importance of finding opportunities that bridge traditional financial products with digital assets.
Korbit currently ranks as South Korea’s fourth-largest cryptocurrency exchange by trading volume among the country’s six licensed platforms.
Data from CoinGecko shows Korbit recorded roughly $11.8 million in 24-hour trading volume at the time of reporting.
The figure remains significantly lower than market leaders Upbit and Bithumb, which posted volumes of approximately $1.2 billion and $475 million respectively.
Coinone sits in third place with a reported 24-hour trading volume of around $58 million, placing Korbit well behind its domestic competitors.
Despite its smaller market share, Korbit was one of the earliest cryptocurrency exchanges established in South Korea.
Analysts suggest Mirae Asset could leverage its capital strength and compliance experience to reposition Korbit within the local market.
The acquisition would come as South Korea continues to tighten oversight of digital asset platforms under its regulatory framework.
Institutional participation in crypto-related businesses has increased as firms seek regulated exposure rather than speculative trading.
Mirae Asset has not publicly confirmed the talks or disclosed any strategic timeline for entering the digital asset sector.
Korbit has also remained silent on the reported negotiations and has not commented on potential changes to its ownership structure.
Neither Mirae Asset nor Korbit responded to requests for comment from CoinDesk at the time of publication.