The club was founded in 1930 as Bashkimi Dibran Peshkopi, and they competed in the Albanian First Divisionfor the first time in 1936, where they were placed in Group B alongside Devolli Bilisht, and the eventual group winners Shkumbini Peqin. The club did not compete in another national competition before it was dissolved in 1944, which led to the creation of the Shoqeria Sportive Korabi in 1945 with a total of 60 members and 32 associates. The club changed its name to Peshkopia in 1949, as they competed in the First Division once again, where they were placed in one of 13 regional groups alongside local amateur clubs Brezhda, Dohoshisht, Greva, Homesh, Maqellara and Shupenza. Peshkopia won the group and progressed through to the second round, where they failed to finish in the top 3 to reach the final round. In 1950, the club participated in the First Division again, and they defeated KF Bulqiza in the first round before being eliminated to Ylli Kuq Kamëz in the second round. The club participated for the first time in the Albanian First Division in 1963. Between 1963 and 2004, they played in the Albanian Second Division. In 2004–2015, they played in the Albanian Third Division. In the 2014/2015 season, Trainer was Erblin Laci, Vice trainer Shpetim Toska, Club Director Sokol Muho, President Femi Meziu.
Recent revival
In the 2014–2015 season, KS Korabi is in First place in Second Albanian League with 24 match played 22 wins and 1 draw 1 loss. Scored 44 goals and conceded 12. Korabi lost 3–1 the supercup against Gramshi in the final between the first places in Group A and B in Second Category. A 3–0 win over KF Albpetrol on 10 May 2015, the club was promoted back to the Albanian Second Division. Korabi completed back to back promotions as they defeated Ada Velipojë 1–0 at the Reshit Rusi Stadium on the final matchday of the regular season in Group A of the Albanian First Division to secure promotion to the Albanian Superliga after a 54-year absence. They then faced Group B winners Luftëtari Gjirokastër in the championship final at the Qemal Stafa Stadium on 19 May 2016, where they failed to win their first trophy since 1983, as they lost 11–10 in a penalty shootout that saw 24 penalties being taken following a goalless draw and extra time. Following their return to the top flight the club's head coachDritan Mehmeti left the club along with his coaching staff and on 11 July 2016 it was announced that former Korabi Peshkopi player Artan Mërgjyshi would be the head coach for the 2016–17 season, with Ermal Nexhipi as his assistant. As the Korabi Stadium failed to meet the licensing criteria for the Albanian Superliga and all of the 2016–17 games were to be played behind closed doors due to a stadium ban, the club was unable to play its home games in Peshkopi, and on 16 July an agreement was reached with KF Tirana and its chairman Refik Halili that allowed the club to play its home games at the Selman Stërmasi Stadium and for the squad to train at KF Tirana's Skender Halili Complex.
