Using KRE, developers can run and bootstrap asp.net vNext application. It is a must have environment that initiates running of asp.net vNext applications. The KRE contains many things such as Native CLR hosts, SDK tools, Compiler systems, etc. You can take help of KVM List command to avail the latest KRE version. For more info, click this link.
KVM (K Version Manager)
KVM is an initial thing you need to run command. With KVM, developers can install and update different version of KRE. The PowerShell script is used to avail and manage distinct KRE version at one time on one machine. This means one application can have KRE version and another application can have another KRE version at the same time. For more info, click this link.
KLR (K Language Runtime)