Seoul: South Korean stocks traded higher late Thursday morning, driven by expectations for the revision of the shareholder-friendly Commercial Act and developments in tariff talks with the United States. The benchmark Korea Composite Stock Price Index (KOSPI) added 18.16 points, or 0.59 percent, to 3,093.22 as of 11:20 a.m.

According to Yonhap News Agency, the index opened higher, tracking Wall Street gains, and maintained the momentum on foreign and institutional buying. The National Assembly is expected to approve the revision of the Commercial Act later in the day, which calls for expanding corporate directors' fiduciary duty to shareholders to better protect the rights of minority shareholders.

Eyes are also on trade talks with the United States, with just a week remaining until the deadline for negotiations. Trade Minister Yeo Han-koo is scheduled to visit the U.S. later this week for last-minute negotiations. Market bellwether Samsung Electronics surged 2.22 percent, while chip giant SK hynix shed 0.72 percent.

Leading battery maker LG Energy Solution added 2.23 percent, and top financial firm KB Financial went up 0.97 percent. No. 1 steelmaker spiked 9.72 percent. Nuclear power plant manufacturer Doosan Enerbility advanced 2.27 percent, and defense systems giant Hanwha Aerospace climbed 0.24 percent.

Carmakers lost ground. Top automaker Hyundai Motor declined 0.47 percent, and its sister affiliate Kia dipped 0.6 percent. Top online portal operator Naver rose 0.99 percent, and Kakao, the operator of the country's dominant mobile messenger, soared 2.39 percent.

The local currency was trading at 1,358.5 won against the U.S. dollar at 11:20 a.m., up 0.2 won from the previous session.