The Korea Composite Stock Price Index or KOSPI was launched in 1983 with the base value of 100 as of January 4, 1980. KOSPI is the major stock market index of South Korea. The index represents all common stocks traded on the Korea Exchange. The index calculation is based on market capitalization method. KOSPI replaced Dow-style KCSPI (Korea Composite Stock Price Index) in 1983.
KOSPI moved below 1,000 mark for several years. The index breached 1,000 for the first time in April 1989. KOSPI recorded its largest one-day percentage gain of 8.50% on June 17, 1998 & largest one-day percentage drop of 12.02% on September 12, 2001. The index's Korean name was officially changed to Koseupi jisu in November 2005. KOSPI reached another milestone of breaking 2000 level for the first time on July 24, 2007.