South Korean stocks opened lower Tuesday as concerns of new coronavirus variants weakened investors' appetite for risky assets.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.55 points, or 0.23 percent, to trade at 3,294.34 points as of 9:15 a.m.

The KOSPI got off to a muted start, taking a cue from new travel bans against the new COVID-19 variants in many parts of the world.

Market bellwether Samsung Electronics retreated 0.49 percent, while No. 2 chipmaker SK hynix added 0.79 percent.

Internet portal operator Naver edged up 0.12 percent, while giant pharmaceutical firm Samsung Biologics slipped 0.12 percent.

Top automaker Hyundai Motor traded flat, and leading chemical firm LG Chem increased 0.6 percent.

The local currency was trading at 1,130.65 won against the US dollar, down 0.35 won from the previous session's close. (Yonhap)