South Korean stocks opened higher Thursday ahead of the meeting in Jackson Hole, Wyoming, as investors seek clues about the US Federal Reserve's stance about its tapering timeline.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.97 points, or 0.19 percent, to trade at 3,152.78 points in the first 20 minutes of trading.

After a three-day winning streak, the KOSPI got off to a solid start as investors expect the Fed to not hurry its timeline to roll back its stimulus amid surging new coronavirus cases.

Fed Chairman Jerome Powell is scheduled to deliver his remarks virtually Friday (US time) at the Fed's annual Jackson Hole gathering.

Later in the morning, Bank of Korea is set to announce its monetary meeting results, with the market consensus betting on a rate freeze.

In Seoul, market bellwether Samsung Electronics edged down 0.13 percent, while No. 2 chipmaker SK hynix increased 0.48 percent.

Internet portal operator Naver declined 0.58 percent, and giant pharmaceutical firm Samsung Biologics lost 0.52 percent.

Top automaker Hyundai Motor gained 0.24 percent, with leading chemical firm LG Chem inching up 0.13 percent. Top bank stock Kakao Bank gained 3.17 percent.

The local currency was trading at 1,166.15 won against the US dollar, up 1.995 percent from the previous session's close. (Yonhap)