Seoul stocks open lower on corporate overhaul concern

SEOUL, Dec. 26 (Yonhap) -- South Korean stocks opened slightly lower Friday as investors shed local shares on concerns over a looming wave of corporate restructuring, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 9.24 points, or 0.82
percent, to 1,119.27 in the first 15 minutes of trading.
The Financial Supervisory Service, the nation's financial watchdog, said Tuesday
the government plans to restructure non-viable builders and small shipbuilders to
stem swelling defaults, pushing down the key stock index.
The local currency was trading at 1,281.6 to the U.S. dollar as of 9:15 a.m., up
24.9 won from Wednesday's close. The local financial market was closed Thursday
for Christmas Day.