Seoul shares open higher on auto, shipbuilder gains

SEOUL, May 18 (Yonhap) -- South Korean stocks got off to a strong start on Wednesday, fueled by firm gains in major automakers and shipbuilders, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.94 points, or 0.43 percent, to 2,111.35 in the first 15 minutes of trading. Leading automaker Hyundai Motor and No. 2 shipbuilder Daewoo Shipbuilding & Marine Engineering both gained more than 2 percent. Shares of Woori Finance Holdings, the country's second-largest financial group, rose more than 1 percent after the government on Tuesday unveiled plans to restart the privatization of the state-run group. The local currency was trading at 1,087.85 won to the U.S. dollar as of 9:15 a.m., up 0.65 won from Tuesday's close.