South Korean stocks traded 1.21 percent higher late Thursday morning, as large-cap stocks widened gains amid strong foreign buying, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) soared 22.85 points to 1,907.37 as of 11:20 a.m.

Financial shares drove up the main index. No. 3 lender Hana Financial Group jumped 2.5 percent, with Woori Finance Holdings advancing nearly 3 percent.

But telecom shares lost ground, with top mobile carrier SK Telecom falling 0.7 percent and smaller player LG Uplus shedding more than 1 percent.

The local currency was changing hands at 1,111.80 won against the greenback as of 11:20 a.m., up 3.6 won from Wednesday's close. (Yonhap news)