Seoul: South Korean stocks surged more than 2 percent on Monday as investors eagerly acquired shares of Samsung Electronics following the chip giant's announcement of a substantial buyback plan. Concurrently, the Korean won appreciated against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) saw a significant rise, gaining 52.21 points, or 2.16 percent, to close at 2,469.07, marking the largest daily gain since September 26, when the index rose by 2.9 percent. According to Yonhap News Agency, the trading volume was moderate, with 431.2 million shares changing hands, valued at 10.4 trillion won (approximately US$7.5 billion). The market saw a broader positive trend with 614 stocks advancing compared to 282 declining. Institutional and individual investors were net buyers, purchasing 3 billion won and 5.5 billion won worth of stocks, respectively. In contrast, foreign investors were net sellers, offloading stocks worth 72.8 billion won. The robust buying activity in Samsung Electronics shares was the primary driver of the market's upward momentum. The company's buyback plan appears to have instilled confidence among domestic investors, prompting a rally that helped lift the overall market sentiment. The strengthening of the Korean won against the U.S. dollar also played a supportive role in the day's market performance.