[South Korea Exchange Night Trading Completes One Month: Concerns Over High Retail Investor Proportion and Liquidity Issues] Deep Tide TechFlow reports that on October 13, according to South Korean media EToday, the South Korea Exchange (KRX) has completed one month of operating its post-market trading platform, which supports nighttime trading for all market stocks. Analysis reveals that the imbalance in market participant structure has become a major issue. KRX data shows that during the first week of the post-market launch (September 14 to 18), individual investors accounted for a staggering 90.4% of trading volume, while foreign and institutional investors accounted for only 6.7% and 2.6%, respectively. The overly skewed investor structure toward retail investors may lead to insufficient market liquidity and amplify price volatility of individual stocks. To avoid becoming merely a "formal extension of trading hours," further improvements are needed in the price formation mechanism, enhanced regulation of nighttime trading, and reforms in areas such as information disclosure, shareholder returns, and tax systems. Previously, it was reported that Nasdaq's nighttime trading has also been approved and is scheduled to go live on December 6. The new arrangement will be divided into a daytime session (Eastern Time 4:00–20:00) and a nighttime session (21:00–4:00 the next day).