Mirae Asset's Korbit stake bid stirs up alleged favoritism

Mirae Asset Financial Group’s bid to acquire a stake in the virtual asset exchange Korbit has sparked controversy over possible preferential treatment, as critics say the deal effectively sidesteps restrictions on financial institutions owning crypto exchanges, industry officials said Monday. In February, Mirae Asset Consulting, an affiliate of the group, announced an agreement to purchase 26.91 million shares in Korbit — equivalent to a 92.06 percent stake — for 133.5 billion won ($91 million), citing plans to secure new growth drivers in the virtual asset sector. The Financial Intelligence Unit under the Financial Services Commission, the country’s top financial regulator, later approved changes to Korbit’s executive lineup, including the appointment of Mirae Asset Consulting representatives to its board. The remaining step is a review by the Fair Trade Commission (FTC), which has recently collected opinions from around 10 securities firms to assess the deal’s potential market impact. According to industry insiders, the FTC asked whether the combined entity could raise entrWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times