Fair Trade Commission approves Mirae Asset’s acquisition of Korbit
⚡ Quick Summary
The Fair Trade Commission approved the acquisition of Korbit by Mirae Asset Consulting, an affiliate of Mirae Asset Group.
The Fair Trade Commission approved the acquisition of Korbit by Mirae Asset Consulting, an affiliate of Mirae Asset Group. This is the first time in Korea that a financial group affiliate has acquired the Jajang Asset Exchange. There are predictions that financial companies' entry into the digital asset market will begin in earnest. On the 9th, the Fair Trade Commission announced that it had approved a business combination in which Mirae Asset Consulting would acquire 26.9 million shares (92.06%) of Korbit stock for approximately 133.5 billion won. Mirae Asset Consulting is a non-financial affiliate of Mirae Asset Group, and most of its sales come from hotel operations. Korbit is one of the five major virtual asset exchanges in Korea that allows Korean won trading. The key issue in this review was whether there was a possibility of limiting competition in Mirae Asset's mainstays, the securities and asset management industries. This is because in the future, when a platform that integrates a stock investment platform and a virtual asset exchange is launched or an exchange-traded fund (ETF) based on virtual assets is launched, there is a possibility that competitors will be excluded and unfair competition will occur. The Fair Trade Commission judged that there were no significant restrictions on competition in both the securities and asset management industries.
← Back