South Korean stocks opened higher Monday, buoyed by news that finance chiefs of the major 20 economies pledged to focus on growth, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.34 points, or 0.29 percent, to 1,876.75 in the first 15 minutes of trading.

Large-cap chemical and shipbuilding firms led the climb, with LG Chem advancing 0.5 percent and Hyundai Heavy Industries jumping 3 percent.

Over the weekend, the Group of 20 (G20) nations agreed to prioritize growth to fuel recovery and global demand amid the continued downturn, and put the agenda for the final action plan at the G20 leaders meeting to be held in September.

The local currency was trading at 1,118.45 won against the U.S. dollar as of 9:15 a.m., up 3.25 won from Friday's close. (Yonhap News)