This paper aims to discuss the strategies needed to enhance the competitiveness of the Korean Securities Market in accordance with the liberalization of financial service. Section II explains the current status of the changes in the internal and external financial environment. Section III introduces the issues in disputes in the UR financial service negotiations. Section IV empirically analyzes the deterministic factors of the competitiveness of the Korean securities market by conducting empirical tests for selected countries such as the U.S. and Japan. Based on these analyses, policy implications for strengthening the competitiveness of the Korean securities market and a summary are provided in Section V.