South Korean stocks opened lower Monday as investors were cautious ahead of the US Federal Reserve's rate-setting meeting this week.

The benchmark Korea Composite Stock Price Index slid 10.54 points, or 0.44 percent, to 2,378.50 in the first 15 minutes of trading.

Several major economic developments from the United States are due this week, as the Fed is to hold a two-day rate-setting meeting starting Tuesday and is likely to deliver a 50-basis point hike.

The Fed has raised the interest rate by 75 basis points four times in a move to curb high inflation.

The US consumer price index will also come out Tuesday.

On Friday, US shares finished lower. The Dow Jones Industrial Average lost 0.9 percent, and the tech-heavy Nasdaq Composite fell 0.7 percent.

In Seoul, major stocks fell across the board, with tech shares under heavy downward pressure.

Market heavyweight Samsung Electronics sank 0.99 percent, and chip giant SK hynix skidded 1.23 percent.

Leading battery maker LG Energy Solution lost 0.19 percent, and Samsung SDI went down 0.16 percent.

Bio shares also lost ground, with Samsung Biologics decreasing 0.73 percent and Celltrion falling 0.83 percent.

But No. 1 chemical firm LG Chem advanced 0.8 percent, and platform giant Kakao added 0.86 percent.

Top automaker Hyundai Motor and its affiliate Kia traded flat.

The local currency was trading at 1,308.15 won against the US dollar as of 9:15 a.m., down 6.85 won from the previous session's close. (Yonhap)