Underlying Index Performance: The primary driver is the performance of the underlying index that 122090.KO tracks, the KOSPI 200. Higher index values generally lead to higher ETF prices.

Supply and Demand: Market forces of supply and demand for the ETF itself influence its price. Increased demand tends to push the price up, while increased supply can lower it.

Net Asset Value (NAV): The NAV, representing the per-share value of the ETF's holdings, acts as a theoretical fair value. The ETF price usually stays close to the NAV.

Expense Ratio: The ETF's management fee, or expense ratio, can slightly impact long-term returns and consequently the perceived value.

Foreign Exchange Rates: Fluctuations in the Korean Won (KRW) against other currencies, particularly USD, affect the price for international investors.

Market Sentiment: Overall investor sentiment towards the Korean stock market and the broader economy influences the willingness to buy or sell the ETF.

Dividend Payments: Dividend distributions can cause a slight decrease in the ETF's price as the distributed cash leaves the fund.

Tracking Error: Imperfect tracking of the KOSPI 200 can lead to deviations between the ETF's performance and the index, affecting its price.

Interest Rates: Changes in prevailing interest rates can affect the attractiveness of stocks compared to bonds, influencing demand for equity ETFs like 122090.KO.