What it is
Regular Korean trading matches orders continuously, but a call auction collects orders for a period and executes them at a single price. The opening auction runs 08:30-09:00 and the closing auction 15:20-15:30 Korea time.
When it is used
Besides the open and close, a two-minute call auction follows a volatility interruption (VI), and auctions are also used when a trading halt is lifted and during the final liquidation period of a delisting.
What to keep in mind
The indicative price shown during an auction keeps changing as orders arrive and cancel, so it is not a guaranteed execution price. Volume clusters into the closing auction because index and institutional orders settle there.
Where to check it
Brokers display an indicative price and quantity during the pre-open (08:30-09:00) and closing (15:20-15:30) auctions. A volatility interruption switches one stock to a single-price auction for two minutes, and trading also reopens at a single price for ten minutes after a market-wide circuit breaker.
See related filings and news data →
This explanation is general information, not investment advice. Rules reflect September 2026 and may change; check official exchange and broker notices.