Seoul shares open tad higher amid tariff woes

Electronic signboards at a Hana Bank dealing room in Seoul show the benchmark KOSPI fell 3.32 points to 2,480.10 points, Monday. Yonhap

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.

Seoul's industry ministry said Sunday that the government plans to kick-start tariff negotiations with the Donald Trump administration later this week in Washington. Korea was slapped with 25 percent reciprocal tariffs, though the U.S. paused its implementation for 90 days.

Market bellwether Samsung Electronics climbed 0.36 percent, and chip giant SK hynix added 0.51 percent.

Top biotech firm Samsung Biologics rose 0.38 percent, while leading battery maker LG Energy Solution lost 0.74 percent.

Top automaker Hyundai Motor advanced 0.64 percent, and its sister affiliate Kia grew 1.26 percent.

No. 1 portal operator Naver soared 1.44 percent, while leading steelmaker POSCO Holdings decreased 0.59 percent.

The local currency was trading at 1,418.85 won against the U.S. dollar at 9:15 a.m., up 4.45 won from the previous session.