South Korean financial services group Mirae Asset agreed to acquire a 92% stake in Korbit for approximately $93 million

Techub News reported, according to Cointelegraph, South Korean financial services group Mirae Asset's subsidiary Mirae Asset Consulting has agreed to acquire equity in the domestic cryptocurrency exchange Korbit. According to submitted regulatory documents, the company plans to acquire 269 million shares of Korbit for 133.48 billion won (approximately $93 million), which will give it a 92.06% stake in the exchange. The transaction will be paid entirely in cash. The deal has not yet been completed. Upon meeting the closing conditions stipulated in the contract, the settlement process will commence and is expected to be completed within seven business days after the conditions are met.

Korbit's latest financial report shows its annual revenue reached 8.7 billion won, with a net profit of 9.8 billion won, reversing previous consecutive losses. The exchange is primarily controlled by NXC and its subsidiary Simple Capital Futures, which together hold approximately 60.5% of the shares. SK Square holds an additional 31.5% stake.