Underlying Index Performance: The price of the 225040.KO ETF is directly tied to the performance of the index it tracks, likely a Korean stock market index. Strong index performance drives up the ETF's price.

Supply and Demand: Basic economics. High demand for the ETF relative to its supply increases its price, while increased supply relative to demand lowers the price.

Net Asset Value (NAV): The NAV is the per-share value of the ETF's holdings. The market price of the ETF tends to stay close to its NAV, arbitrage mechanisms help maintain this relationship.

Market Sentiment: Overall investor confidence or fear in the Korean stock market can influence demand for the ETF, affecting its price, with positive sentiment increasing demand.

Currency Exchange Rates: Fluctuations in the Korean Won (KRW) against other currencies (e.g., USD) can affect the ETF's price, especially for international investors. A stronger Won increases its value.