Seoul: Seoul's stock market opened slightly higher on Monday, marking the last trading session of the year, as investors sought bargains following a week of downturns driven by political instability. The Korea Composite Stock Price Index (KOSPI) experienced a modest gain of 9.69 points, or 0.4 percent, reaching 2,414.46 in the initial minutes of trading.

According to Yonhap News Agency, the South Korean financial market has been under pressure due to recent political events, including President Yoon Suk Yeol's brief imposition of martial law on December 3. This political upheaval has resulted in the president facing an impeachment motion, contributing to market volatility.

Despite these challenges, certain sectors showed strength. Battery and financial stocks were among the leaders, with LG Energy Solution seeing a rise of 2.73 percent and KB Financial climbing 0.47 percent. Defense equipment and energy stocks also posted gains, with Hanwha Aerospace and SK Innovation up by 0.63 percent and 1.80 percent, respectively.

Conversely, the technology sector faced setbacks. Notable chipmakers Samsung Electronics and SK hynix recorded declines of 0.74 percent and 0.11 percent, respectively. The airline industry was particularly hard-hit, with Jeju Air and its parent company Aekyung Holdings experiencing significant losses of 10.35 percent and 9.3 percent, respectively, following a tragic crash involving a Jeju Air plane that resulted in 179 fatalities, marking South Korea's deadliest aviation incident to date.

The South Korean won also showed weakness, trading at 1,473.40 against the U.S. dollar, down 5.90 won from the previous session.