Korea Power Exchange (), also known as KPX, is the

quasi-governmental agency A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the government ...

under the

Ministry of Trade, Industry and Energy The Ministry of Trade, Industry and Energy (MOTIE) is a ministry under the Government of South Korea. It is concerned with regulating some economic policy, especially with regard to the industrial and energy sectors. The ministry also works to e ...

responsible for operating the

electricity market In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had u ...

and the

electric power system An electric power system is a network of electrical components deployed to supply, transfer, and use electric power. An example of a power system is the electrical grid that provides power to homes and industries within an extended area. The e ...

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

. In order to ensure fair and transparent operation of the market, as well as stable and efficient operation of the grid, it was established in

April 2001 The September 11 attacks against the United States by Al-Qaeda, which killed 2,977 people and instigated the global war on terror, were a defining event of 2001. The United States led a multi-national coalition in an invasion of Afghanistan ...

by being spun off from the

Korea Electric Power Corporation Korea Electric Power Corporation, better known as KEPCO (Hangul: 켑코) or Hanjeon (Hangul: 한전), is the largest electric utility in South Korea, responsible for the generation, transmission and distribution of electricity and the developme ...

(KEPCO) as a part of the industry restructuring efforts. Because the legal name () may give a false impression that it is a subsidiary of KEPCO (), the general name of is used for most purposes.

Establishment

Article 35 of the Electric Utility Act (EUA)<