This study empirically examined the magnet effect, which is an ex-ante effect of price limits, using extensive data. The empirical results demonstrated that a significant magnet effect exists when stock prices approach the limit prices. That is, it was found that price limits have a significant influence not only ex-post but also ex-ante on investors' order submission behavior and the price formation process, and changes in the characteristics of order submission behavior were also identified as stock prices approached the price limits. Furthermore, it was found that such magnet effects appear asymmetrically at the upper and lower limits.