Samsung Knox provides security features that enable business and personal content to coexist on the same handset. The user presses an icon that switches from Personal to Work use with no delay or reboot wait time.[1] The manufacturer has claimed this feature will be fully compatible with Android and Google and will provide full separation of work and personal data on mobile devices and "addresses all major security gaps in Android."
The Knox service is part of the company's "Samsung Approved For Enterprise" (SAFE) offerings for smartphones and tablets. Samsung Knox’s primary competitor is Blackberry Balance, a service that separates personal and work data. The name, Samsung Knox, is inspired by Fort Knox. source:wikipedia
Knox has been added to the Samsung Galaxy lineup of devices in an attempt to lure in the business class of customers. Knox is meant to keep your device safe from any type of exploit and is meant for those who would like to use their device for personal and business uses like corporate email, contacts, exchange and more. The reason you may want to remove Knox from your device is because it causes all sorts of conflict if you are rooted. It can cause Force Closes on any root apps that you may have on your phone. You will get a pop up on your phone when SuperSU is called for action. This can be an annoyance. You can remove this by disabling Knox services.
To Disable without root simply Open the app drawer, tap samsung/Samsung Knox, tap the menu button in the Knox homescreen, from the options select knox settings, select about knox/uninstall, you can either choose backup your knox data or not, then just enjoy the benefits of having no Knox on your Galaxy device. source: droidforums.net
Another way to disable Samsung Know is via software done by silentkiller. The so called Samsung Knox Disabler. You can disable Samsung Knox in just a single click. Disabling it will grant you to unlock you r Samsung Galaxy S3 v4.3 New Security.