Which South Korean exchange was created in 2005 by merging three major Korean markets?

The Korea Exchange was created in 2005 by merging South Korea’s principal securities, futures, and technology-focused markets.

The merger combined the Korea Stock Exchange, the Korea Futures Exchange, and KOSDAQ. The new unified exchange was intended to improve efficiency and provide a single national platform for a broad range of financial products.

Korea Exchange is commonly abbreviated KRX and is headquartered in Busan, with important operations in Seoul. Its markets include equities, bonds, derivatives, exchange-traded funds, and KOSDAQ-listed growth companies. KOSDAQ itself is a market operated within the KRX structure, not a separate national exchange created by the merger.

The exchange’s history therefore illustrates consolidation rather than the opening of an entirely new market. South Korea had already developed active securities and technology-company markets before KRX was formed.