Seoul: South Korean stocks experienced a significant rebound Thursday morning after suffering a record daily drop of over 12 percent in the previous session, primarily due to concerns about a prolonged crisis in Iran. The Korea Composite Stock Price Index (KOSPI) opened 3.09 percent higher and climbed 559.78 points, an increase of 10.99 percent, reaching 5,653.32 within the initial 20 minutes of trading.

According to Yonhap News Agency, the Korea Exchange (KRX), which operates the country's main stock market, implemented a five-minute buy-side sidecar just six minutes after trading began. This temporary measure was aimed at halting program-driven buy orders in KOSPI futures to stabilize the market. The previous day, KOSPI had plummeted 12.06 percent to close at 5,094.54, marking the sharpest daily decline on record as investor confidence was shaken by fears of the Iran crisis impacting South Korea's export-driven economy.

On Wall Street, there was a modest recovery with the Dow Jones Industrial Average rising by 0.49 percent and the Nasdaq Composite increasing by 1.29 percent, thanks to a stabilization in oil prices. In Seoul, major market players led the recovery, with Samsung Electronics seeing a substantial increase of 13.59 percent, and SK hynix, its competitor in chip manufacturing, rising by 15.19 percent. Hyundai Motor, a top car manufacturer, surged 14.57 percent, while LG Energy Solution, a leading battery maker, advanced 8.78 percent. Additionally, Samsung Biologics, a key pharmaceutical company, gained 5.8 percent, and KB Financial Group, a major banking entity, rose 8.93 percent. The Korean won also saw an improvement, trading at 1,461.7 won against the U.S. dollar as of 9:15 a.m., gaining 14.5 won from the previous session.