At the same time as the derivative KOSPI200 index futures "moved", a new integration movement was launched in South Korea, aiming at building a more open and competitive global financial service enterprise. The new integration has also been actively promoted by the government and enforced by law. The mode adopted is to merge the three existing exchanges in Korea-Korea Stock Exchange, Growth Enterprise Market (Kosdaq) and Futures Exchange into a Korean Stock and Futures Exchange (KRX), with its headquarters in Busan, where the futures exchange is located, and at the same time, it began to carry out corporate transformation. In fact, this model was implemented in Singapore and Hong Kong several years ago. On June 65438+1October 65438+September 2005, the newly established Korea Stock and Futures Exchange held a celebration, marking the final completion of the integration. At present, there are five departments under the Exchange: administrative back-office service department, stock market division, Kostak market division, futures market division and market supervision division. Among them, the futures market division is in charge of various derivatives transactions. The advantage effect of this integration will promote the Korea Stock and Futures Exchange to become one of the major capital markets in the world.