KOSPI vs KOSDAQ
The Korea Exchange (KRX) operates two main stock markets.
KOSPI (Korea Composite Stock Price Index)
- Established: 1956 (index base year: 1980 = 100)
- Character: Main board for large-cap and blue-chip companies
- Notable companies: Samsung Electronics, SK Hynix, Hyundai Motor, LG Energy Solution
- Listing requirements: Stricter — requires minimum capital, operating history, profitability
KOSDAQ (Korean Securities Dealers Automated Quotations)
- Established: 1996
- Character: Growth-oriented market, similar to NASDAQ
- Focus sectors: Technology, biotech, entertainment, gaming
- Listing requirements: More relaxed, enabling younger companies to list
Key Difference: KOSPI is for established, large companies (think NYSE), while KOSDAQ focuses on innovative, growth-stage companies (think NASDAQ).
KOSPI vs KOSDAQ at a Glance
Data as of 2026년 2월 6일 16:34. Source: KRX
Trading Hours
| Session | KST (Korea) | UTC | EST (New York) |
|---|---|---|---|
| Pre-Market | 08:00 - 09:00 | 23:00 - 00:00 (prev. day) | 18:00 - 19:00 (prev. day) |
| Regular Trading | 09:00 - 15:30 | 00:00 - 06:30 | 19:00 - 01:30 |
| After-Hours | 15:40 - 16:00 | 06:40 - 07:00 | 01:40 - 02:00 |
Time Zone Note: KST is UTC+9. No daylight saving time in Korea.
Market Rules and Mechanisms
Daily Price Limit
±30% daily price limit based on previous day's closing price.
Circuit Breakers
| Stage | Trigger | Action |
|---|---|---|
| Stage 1 | Index falls 8%+ | Trading halted 20 minutes |
| Stage 2 | Index falls 15%+ | Trading halted 20 minutes |
| Stage 3 | Index falls 20%+ | Trading halted for the day |
Trading Lot
Minimum trading unit is 1 share.
Settlement
Trades settle on T+2.
How Foreign Investors Can Invest
1. Direct Investment via Local Broker
- Open an Investor Registration Certificate (IRC) through FSS
- Full access to KOSPI and KOSDAQ
2. Through International Brokers
- Global brokers like Interactive Brokers offer KRX access
- Simplified account opening
3. ETFs and ADRs
- Korea-focused ETFs (e.g., EWY) for broad exposure
- ADRs of major Korean companies on U.S. exchanges
NexTrade — Korea's Alternative Trading System
Since March 2025, Korea has a second exchange: NexTrade (NXT), offering 12-hour trading and 20–40% lower fees.
Learn more: NexTrade (NXT) Guide
Key Market Indexes
| Index | Description | Base |
|---|---|---|
| KOSPI | Main market index (market-cap weighted) | 100 (1980) |
| KOSPI 200 | Top 200 by market cap | 100 (1990) |
| KOSDAQ | All KOSDAQ stocks | 1,000 (2004) |
| KRX 300 | Top 300 from both markets | 1,000 (2015) |