Seoul: South Korean stocks opened lower Monday as investor sentiment remained cautious amid renewed uncertainty over the fragile U.S.-Iran ceasefire and rising oil prices. The benchmark Korea Composite Stock Price Index (KOSPI) fell 76.93 points, or 0.91 percent, to 8,334.28 at the opening bell.

According to Yonhap News Agency, oil prices climbed after the United States and Iran exchanged fresh strikes over the weekend, raising renewed concerns over energy supplies and shipping traffic through the Strait of Hormuz. On Friday, the S and P 500 slipped 0.05 percent and the Nasdaq composite declined 0.24 percent, while the Dow Jones Industrial Average fell 0.09 percent.

Investors also sat on the sidelines as the country's top two major chipmakers -- Samsung Electronics and SK hynix -- are set to unveil major long-term investment plans at a meeting chaired by President Lee Jae Myung later in the day, including large-scale infrastructure investments to expand South Korea's semiconductor production capacity.