Korea Exchange (KRX) said it will operate an aftermarket starting on the 14th to respond to liquidity competition with major U.S. exchanges and expand investors' trading opportunities.
The exchange said on the 9th that it approved revisions to the stock market and KOSDAQ market business regulations reflecting this plan.
The aftermarket will operate for four hours from 4 p.m. to 8 p.m. Unlike the after-hours single-price session (4 p.m.–6 p.m.) that ran after the regular session ended, orders can be matched in real time.
The exchange initially aimed to launch premarket and aftermarket trading by the end of June but adjusted the schedule to open only the aftermarket first from the 14th, reflecting industry feedback. It has been preparing system builds by operating a mock market in an environment identical to the real market for 23 weeks from Apr. 6 to the 10th of this month.
In the aftermarket, considering market volatility, ETFs (exchange-traded funds) and ETNs (exchange-traded notes) are excluded from trading. Quotes will also be limited to limit orders (market orders excluded), and the same price fluctuation band as the regular session (previous day's close ±30%) and a volatility interruption (VI) mechanism will be applied.
The exchange saw the aftermarket launch as likely to help enhance investor access and market competitiveness. It noted that with extended trading hours, investors can immediately reflect post-close information in prices, enabling swift investment decisions.
An exchange official said, "To continuously strengthen the competitiveness of our stock market infrastructure, we will keep monitoring the trend of extended hours at global exchanges," adding, "We plan to review a phased extension of trading hours going forward."