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Stock impact report

South Korea's Mirae Asset Group Explores $100M Takeover Of Crypto Exchange Korbit [Yahoo! Finance]

SK Telecom Co., Ltd. (SKM) 
Company Research Source: Yahoo! Finance
The discussions run through Mirae Asset Consulting, a non-financial affiliate of the group, which has signed a memorandum of understanding with Korbit's major shareholders, according to South Korean media reports. Korbit is primarily owned by NXC, the holding company behind gaming giant Nexon, which controls about 60.5% of the exchange. SK Planet holds another 31.5%, reports said. The price tag under discussion sits in a range of 100B won to 140B won ($70M to $100M), a level that would mark a rare large-scale entry into Korea's exchange market by a mainstream financial group. Korbit helped pioneer Korea's crypto scene, launching in 2013 and debuting what it billed as the first Bitcoin-to-won trading market. Today, it operates in a far more concentrated arena where Upbit dominates daily volumes. CoinGecko data shows Upbit taking 64.2% of local trading in a recent 24-hour window, followed by Bithumb at 24.4% and Coinone at 10.8%, leaving Korbit at about 0.5%. That small share Show less Read more
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