Seoul shares open lower on U.S. fiscal cliff woes

South Korean stocks opened lower Friday as investor sentiment was dented by rising concerns on the U.S. fiscal cliff issue, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.3 percent, or 5.76 points, to 1,929.09 in the first 15 minutes of trading.

Carmakers led the decline, with No.1 player Hyundai Motor falling 0.22 percent, while its smaller auto parts affiliate Hyundai Wia moved down 0.84 percent.

Brokerages also fell, with Samsung Securities losing 0.61 percent, while KDB Daewoo Securities decreased 1.4 percent. Korea Aerospace Industries Ltd., the country's sole aircraft manufacturer, fell 3.3 percent.

The local currency was trading at 1,084.00 won to the greenback as of 9:15 a.m., up 0.10 won from Thursday's close. (Yonhap News)