In this study, we examine the effects of the Korea-US FTA and Korea-China FTA on the economic performance of the KOSPI and KOSDAQ companies listed on the Korean stock market. This study is an empirical analysis using the Cumulative Abnormal Return (CAR) as a response variable using an event study method. In case of the Korea-US FTA, the event will be held on April 2, 2007, and on March 15, 2012, which was officially in force after ratification by the US and ROK parliaments. And December 20, 2015, which was officially in force after ratification by both parliaments of Korea and China. This study examines the relationship between the Korea-US FTA and the Korea-China Free Trade Agreement (FTA), which has the largest portion of Korea 's foreign trade among the free trade agreements, This study is an empirical analysis of the cumulative abnormal return (CAR) change by setting the insignificant economic effect from ± 60 days, ± 30, ± 5, and ± 3 days, respectively, before and after each event day. The results of this study are as follows. First, we analyzed the differential effect of the two FTAs o n the stock market by comparing the FTA and Korea - China FTA. In addition, we examined how the two FTAs i n teract with each other in the stock market. We also analyzed the effects of the asymmetric FTAs o f the industry, which differ according to the KORUS FTA and the Korea-China FTA, The government will be able to use it as a more useful direction for policy formulation and decision making, and for the comparative downturn industry, which is concerned about the damage of the domestic industry due to the expansion of the import market.