Seoul: South Korean shares extended their gains late Tuesday morning, buoyed by a strong performance in major chip stocks. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 63.79 points, or 1.63 percent, to 3,984.16, as of 11:20 a.m.

According to Yonhap News Agency, most large-cap shares traded higher. Chip giant Samsung Electronics increased 2.48 percent, and rival SK hynix gained 3.72 percent. Carmakers also gained momentum, with No. 1 automaker Hyundai Motor jumping 4.52 percent and Kia adding 3.38 percent. In contrast, defense giant Hanwha Aerospace decreased 1.35 percent, and leading battery maker LG Energy Solution was down 0.36 percent.

The local currency was trading at 1,469.5 won against the greenback as of 11:20 a.m., up 0.4 won from the previous session's close.