Underlying Asset Performance: The primary driver is the performance of the assets held within the ETF. If the underlying Korean stocks increase in value, the ETF's price will generally rise. Supply and Demand: Basic market forces influence the ETF's price. High demand tends to push the price up, while increased selling pressure can lower it. NAV (Net Asset Value): The NAV, calculated daily, reflects the total value of the ETF's assets minus liabilities, divided by the number of outstanding shares. Significant deviation between the ETF's market price and NAV can create arbitrage opportunities, influencing price adjustments. Market Sentiment: Broad investor confidence or fear towards the Korean stock market will impact the ETF's valuation. Positive sentiment often leads to increased investment, and vice versa. Currency Exchange Rates: Fluctuations in the KRW/other currency rate affect returns. A stronger KRW increases the value of Korean assets for foreign investors.