A review of the present experimental status of the $K \rightarrow \pi \nu \bar{\nu}$ decays is given. The NA62 experiment at CERN is designed to measure the branching ratio (BR) of the $K^+ \rightarrow \pi^+ \nu \bar{\nu}$ decay with a novel kaon decay-in-flight technique. One candidate event, compatible with the Standard Model (SM) prediction, has been observed from a sample of $1.2 \times 10^{11}$ decays collected by NA62 in 2016. A larger data sample will be available to NA62 by the end of 2018 for the measurement of BR($K^+ \rightarrow \pi^+ \nu \bar{\nu}$). The aim of the KOTO experiment at JPARC is to study the $K_L \rightarrow \pi^0 \nu \bar{\nu}$ decay using a kaon decay-at-rest technique. The data collected by KOTO and the analysis strategy are presented. Improvements on both hardware and analysis levels necessary to reach the SM sensitivity for $K_L \rightarrow \pi^0 \nu \bar{\nu}$ are outlined.