South Korea Approves Mirae Asset's Acquisition of Korbit Crypto Exchange on July 9

According to South Korea's Fair Trade Commission (FTC), on July 9, the commission approved Mirae Asset Financial Group's acquisition of cryptocurrency exchange Korbit. The FTC determined that combining a securities platform with a crypto exchange would not significantly restrict market competition, citing Korbit's minimal 0.5% market share by trading volume.

Korbit has faced financial pressures, posting eight consecutive years of operating losses since 2018. The exchange has been liquidating assets to cover operational costs, with over 12 billion Korean won in asset sales planned for 2026 alone. Mirae Asset views the acquisition as a step toward launching an integrated platform covering stocks, bonds, and cryptocurrencies, following the company's earlier launch of a similar platform called MAPS in Hong Kong.