KOSDAQ
Encyclopedia
KOSDAQ is a trading board of Korea Exchange
(KRX) in South Korea
established in 1996. Initially set up by Korea Financial Investment Association
as an independent stock market
from the Korean Stock Exchange, it was benchmarked from the American counterpart, NASDAQ
.
KOSDAQ is an electronic stock market, just like NASDAQ. The open hours for the market is 09:00AM to 03:00PM KST
.
It is now operated as SME Market Division of KRX. As per 19 February 2008, 1029 companies are listed on KOSDAQ for trading.
In May of 1996, the KOSDAQ Securities Exchange (코스닥증권시장) was established in order to vitalize, modernize and fully computerize the market. KOSDAQ went into fully service in July 1, 1996.
During the 1997 Asian Financial Crisis, KOSDAQ market indexes plummeted and investors suffered heavy losses, but due to the quick recovery of the South Korean Economy, KOSDAQ saw rapid recovery and increase in market capitalization through the early 21st century.
Korea Exchange
Korea Exchange is the sole securities exchange operator in South Korea. It is headquartered in Busan, and has an office for cash markets and market oversight in Seoul.- History :...
(KRX) in South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
established in 1996. Initially set up by Korea Financial Investment Association
Korea Financial Investment Association
The Korea Financial Investment Association is a non-profit, self-regulatory organization in South Korea, founded under the Financial Investment Services and Capital Market Act...
as an independent stock market
Stock market
A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...
from the Korean Stock Exchange, it was benchmarked from the American counterpart, NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
.
KOSDAQ is an electronic stock market, just like NASDAQ. The open hours for the market is 09:00AM to 03:00PM KST
Korea Standard Time
Korea Standard Time is the standard time zone in North and South Korea and is 9 hours ahead of UTC : i.e., when it is midnight UTC, it is 9 am Korea Standard Time. Korea does not currently observe daylight saving time but has experimented with it in the past...
.
It is now operated as SME Market Division of KRX. As per 19 February 2008, 1029 companies are listed on KOSDAQ for trading.
History
The South Korean Government, in July of 1986, passed the "Market Organization for Vitalization of Publicly Traded Assets for Small Businesses Act" in order to provide a way for small and intermediate businesses to raise revenue through publicly traded shares, and to provide investors with new routes of investments. In April of 1987, the Market Organization was achieved, and the first three companies were registered.In May of 1996, the KOSDAQ Securities Exchange (코스닥증권시장) was established in order to vitalize, modernize and fully computerize the market. KOSDAQ went into fully service in July 1, 1996.
During the 1997 Asian Financial Crisis, KOSDAQ market indexes plummeted and investors suffered heavy losses, but due to the quick recovery of the South Korean Economy, KOSDAQ saw rapid recovery and increase in market capitalization through the early 21st century.