Underlying Asset Performance: The ETF's price is primarily driven by the performance of the assets it holds, like Kospi 200 constituent stocks.

Supply and Demand: Market demand for the ETF relative to its supply impacts its price; higher demand pushes prices up.

Index Tracking: The ETF's ability to accurately track its benchmark index (e.g., Kospi 200) affects its price; deviations can create premiums or discounts.

Management Fees & Expenses: The fund's expense ratio reduces returns, impacting its price relative to the underlying assets.

Currency Fluctuations: For foreign ETFs, currency exchange rates between KRW and other currencies influence returns and prices.

Market Sentiment: Overall investor sentiment towards the Korean stock market affects the ETF's valuation and trading activity.