South Korean stocks traded 1.16 percent higher late Wednesday morning, fueled by gains in blue chip exporters, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) moved up 23.09 points to 2,008.92 as of 11:20 a.m. 

Shares gathered ground across the board, with market bellwether Samsung Electronics advancing 1.94 percent and top chipmaker SK hynix adding 2.13 percent. Hyundai Engineering & Construction moved up 1.63 percent.

Carmakers also traded higher, with No. 1 industry player Hyundai Motor rising 2.14 percent and its smaller affiliate Kia Motors spiking 1.3 percent. Top auto parts maker Hyundai Mobis gained 1.5 percent.

The local currency was changing hands at 1,077.05 won against the greenback as of 11:20 a.m., up 4.15 won from Tuesday's close. (Yonhap News)