An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap)

South Korean stocks opened steeply lower Thursday, tracking overnight plunges on Wall Street that stemmed from rising tensions in Ukraine.

The benchmark Korea Composite Stock Price Index (KOSPI) retreated 28.85 points, or 1.06 percent, to 2,690.08 points as of 9:15 a.m.

Overnight, the tech-heavy Nasdaq composite tumbled 2.57 percent and the Dow Jones Industrial Average declined 1.38 percent as Ukraine declared a state of emergency and Washington said a Russian invasion of Ukraine remains imminent.

Most stocks retreated in Seoul on concerns about a potential invasion of Ukraine, led by foreign and institutional sell-offs.

Market bellwether Samsung Electronics lost 1.1 percent, and No. 2 chipmaker SK hynix dipped 3.11 percent.

Internet portal operator Naver retreated 1.29 percent and top carmaker Hyundai Motor decreased 1.39 percent. Leading chemical firm LG Chem moved down 1.87 percent.

The local currency was trading at 1,196.35 won against the U.S. dollar, down 2.75 won from the previous session's close. (Yonhap)