Seoul: South Korean stocks experienced an upswing late Wednesday morning, primarily fueled by strong performances from market heavyweight Samsung Electronics and various IT shares. The benchmark Korea Composite Stock Price Index (KOSPI) climbed by 20.07 points, marking a 0.68 percent increase to reach 2,970.37 as of 11:20 a.m.

According to Yonhap News Agency, Wall Street had a decline overnight following U.S. President Donald Trump's call for Iran's "unconditional surrender" and his warning for people in Tehran to evacuate immediately. The situation has escalated as Iran is engaged in a military conflict with Israel, which conducted preemptive airstrikes on Iranian nuclear facilities earlier this week.

In the South Korean market, tech giant Samsung Electronics saw a rise of 1.98 percent. However, its competitor in the chipmaking industry, SK hynix, experienced a slight dip, shedding 0.2 percent. The IT sector showed significant momentum, with Naver, a leading internet portal operator, soaring by 15.25 percent, and Kakao, the dominant mobile messenger operator in the country, increasing by 5.5 percent.

The ongoing Israel-Iran conflict has also influenced the oil market, leading to a surge in international oil prices. This development positively impacted SK Innovation, a major oil refinery, which saw its shares rise by 9.66 percent. Conversely, Hanwha Aerospace, a defense giant, and HD Hyundai Heavy, a leading shipbuilder, witnessed declines of 1.15 percent and 1.83 percent, respectively.

Meanwhile, the local currency was trading at 1,371.7 won against the U.S. dollar at 11:20 a.m., showing a decrease of 9.0 won from the previous session.