S. Korea launches first alternative stock exchange Nextrade

South Korea's first alternative stock trading platform Nextrade was launched Tuesday morning.

It runs for 12 hours from 8 AM to 8 PM, longer than the trading hours of the main Korea Exchange bourse.

It also has lower commission fees compared to the main bourse.

It started with 10 firms being traded, but the number is expected to rise to 800 over the next month.