Seoul: South Korean stocks opened slightly higher on Monday as the country is set for negotiations with the United States over the sweeping tariff scheme. The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.61 points, or 0.23 percent, to 2,489.03 in the first 15 minutes of trading.
According to Yonhap News Agency, Seoul's industry ministry announced on Sunday that the government plans to kick-start tariff negotiations with the Donald Trump administration later this week in Washington. South Korea was initially hit with 25 percent reciprocal tariffs, but the U.S. has paused its implementation for 90 days, allowing room for discussions.
Market bellwether Samsung Electronics climbed 0.36 percent, while chip giant SK hynix added 0.51 percent. In the biotech sector, Samsung Biologics rose 0.38 percent, whereas leading battery maker LG Energy Solution experienced a downturn, losing 0.74 percent.
Top automaker Hyundai Motor advanced 0.64 percent, and its sister affiliate Kia saw growth of 1.26 percent. No. 1 portal operator Naver experienced a surge of 1.44 percent, while leading steelmaker POSCO Holdings decreased by 0.59 percent.
The local currency was trading at 1,418.85 won against the U.S. dollar at 9:15 a.m., marking an increase of 4.45 won from the previous session.