The Korea Futures Exchange (KOFEX) is a financial market in South Korea that specializes in trading futures and options contracts. Established in 1996, it provides a platform for investors to hedge risks and speculate on the future prices of various assets, including commodities, stocks, and interest rates. KOFEX plays a crucial role in the South Korean economy by enhancing market liquidity and price discovery. It operates under the supervision of the Financial Services Commission and is part of the broader Korea Exchange, which also includes the stock market.