South Korean stocks opened slightly lower on Friday as investors took a wait-and-see approach ahead of the central bank's rate-setting meeting.

The benchmark Korea Composite Stock Price Index fell 0.43 points, or 0.02 percent, to 1,977.06 in the first 15 minutes of trading. 

Investors remained on the sidelines as the Bank of Korea is to hold its monetary policy meeting. It is widely expected to keep its rate unchanged for May.

The local currency was trading at 1,171.6 won against the U.S. dollar, down 9 won from the previous session. (Yonhap)