Korea Stock Exchange

The Korea Stock Exchange (KSE) was the principal securities exchange of South Korea from its establishment in 1956 until its merger into the Korea Exchange (KRX) in 2005. Created under the Securities and Exchange Act enacted after the Korean War, the exchange was established to foster the development of an organized capital market and facilitate the raising of capital for the country's rapidly industrializing economy. The KSE was headquartered in Seoul and served as the primary marketplace for the trading of listed equities and bonds.

During South Korea's period of rapid economic growth from the 1960s through the 1990s, the Korea Stock Exchange expanded significantly alongside the country's export-driven industrialization. It became the listing venue for many of South Korea's largest conglomerates, including companies within the Samsung, Hyundai, LG, and SK Group business groups. The exchange also developed benchmark market indices, most notably the Korea Composite Stock Price Index (KOSPI), introduced in 1983, which became the country's principal indicator of stock market performance.

On 27 January 2005, the Korea Stock Exchange merged with the KOSDAQ market operator and the Korea Futures Exchange (KOFEX) to establish the Korea Exchange (KRX), creating an integrated national exchange for securities and derivatives trading. Following the merger, the KSE's equity market became the KOSPI Market within KRX, while its trading, clearing, and market surveillance functions were incorporated into the unified exchange structure. The merger was intended to improve operational efficiency, strengthen regulatory oversight, and enhance the international competitiveness of South Korea's capital markets.