Mirae Asset Group is preparing to inject 50 billion won, roughly $35 million, into the operator of South Korean crypto exchange Korbit less than a month after completing its takeover of the company.
Summary
- Mirae Asset will inject 50 billion won into Digital X following its completed Korbit acquisition.
- Digital X will issue 10,078,614 new shares at 4,961 won each to Mirae Asset Consulting.
- Mirae Asset Consulting owns 97.15% of Digital X after completing the crypto exchange takeover recently.
- Korbit recorded a 15.4 billion won operating loss in 2025 despite higher annual revenue growth.
- South Korea approved the acquisition after finding little competition risk from Korbits market position domestically.
Digital Xs board approved the capital increase on Aug. 12, with payment scheduled for Aug. 27, News1 reported Thursday.
Digital X will issue 10,078,614 common shares at 4,961 won each through a third party allotment. All new shares will go to Mirae Asset Consulting, the Mirae affiliate that already controls 97.15% of the company. Digital X said the proceeds are intended to improve its financial structure and meet immediate management funding needs.
Mirae Asset backs Korbit with 50B won after acquisition
You might also like:
South Koreas Korbit becomes Digital X under Mirae Asset ownership
Mirae Asset adds fresh capital weeks after buying Korbit
The injection follows Mirae Asset Consultings July acquisition of Korbit. As previously reported, the group completed its takeover of the crypto exchange after securing regulatory clearance, eventually raising its ownership to 97.15%.
Mirae initially agreed to acquire 92.06% of Korbit for approximately 133.48 billion won. It later purchased additional shares, taking its cumulative acquisition cost to around 141.4 billion won. South Korea‘s Fair Trade Commission approved the combination on July 9 after concluding that it was unlikely to materially restrict competition. The regulator cited Korbit’s roughly 0.5% share of the domestic crypto trading market in 2025.
The new 50 billion won injection differs from the acquisition spending because the money will enter Digital X itself rather than being paid to existing shareholders for their stakes. It provides the exchange operator with additional capital as Mirae begins implementing its post-acquisition strategy.
Korbit losses put financial restructuring in focus
The stated goal of strengthening Digital Xs finances comes after several loss-making years at Korbit. The exchange generated about 9.8 billion won in operating revenue during 2025 but recorded a 15.4 billion won operating loss, despite revenue increasing from the prior year.
Korbit also remains much smaller than South Korea‘s leading exchanges. The Fair Trade Commission put its 2025 market share at about 0.5%, compared with a market dominated by Upbit and Bithumb. That position helped regulators conclude that Mirae’s acquisition posed little threat to competition.
The capital injection therefore gives Mirae more room to invest in the exchange while addressing its financial position. The company has not disclosed a detailed breakdown of how the 50 billion won will be spent beyond improving its financial structure and securing operating funds.
Digital X becomes the center of Miraes crypto strategy
Korbits operating company formally changed its corporate name from Korbit Co. to Digital X Co. on Aug. 11. The Korbit exchange name remains unchanged for customers and will be altered separately at a later date. Apps, websites, customer accounts, asset custody arrangements and existing services were not changed by the corporate rename, Yonhap reported.
The legal change follows Mirae‘s earlier announcement that it would build Digital X around tokenization, stablecoins and links between traditional and digital assets. Founder and Global Strategy Officer Park Hyeon-joo has described Digital X as a core component of the group’s “Mirae Asset 3.0” strategy. Those products remain part of Miraes planned expansion rather than services confirmed by the latest capital increase.
The investment also comes during a broader move by established financial companies into South Koreas regulated exchange sector. Korea Investment & Securities and OKX Ventures agreed to invest 80 billion won each for 19.6% stakes in Coinone, while Samsung affiliates agreed to acquire a combined 4% stake in Upbit operator Dunamu.
What happens next for Mirae Asset and Korbit
The next concrete deadline is Aug. 27, when Mirae Asset Consulting is due to pay for the 10.08 million newly issued Digital X shares. Completion will mark the first major capital injection into the exchange operator since Mirae took control.
Attention will then turn to how Digital X deploys that capital and when the Korbit service itself adopts the Digital X name. Mirae has said it wants the business to extend beyond conventional crypto trading into products connecting traditional finance with digital assets, but it has not published launch dates for those planned services.