History
KOSPI (한국종합주가지수 Hanguk jonghap juga jisu) was introduced in 1983, replacing Dow-style KCSPI (Korea Composite Stock Price Index).
For years, KOSPI moved below 1,000, peaking above 1,000 in April 1989, November 1994, and January 2000.
On June 17, 1998, KOSPI recorded its largest one-day percentage gain of 8.50% (23.81 points), recovering from the bottom of the Asian financial crisis.
On September 12, 2001, KOSPI had its largest one-day percentage drop of 12.02% (64.97 points) just after 9/11.
On February 28, 2005, KOSPI closed at 1,011.36. It then plunged to 902.88 until April. But unlike previous bull traps, it kept moving upward breaking the long-standing 1,000 point resistance level.
In November 2005, the index's Korean name was officially changed to Koseupi jisu (코스피지수).
On July 24, 2007, KOSPI broke 2,000 level for the first time. On July 25 it closed at 2,004.22.
On August 20, 2007, the index recovered 93.20 (5.69%), its largest one-day point gain, after the U.S. Federal Reserve lowered the discount rate. Then on October 16, 2008, the index dropped 126.50 (9.44%), after Dow Jones index dropped 7.87%.
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