South Korean stocks traded 0.49 percent lower late Monday morning after the announcement of the government's "value-up" program. The benchmark Korea Composite Stock Price Index (KOSPI) had lost 13.18 points to 2,654.52 as of 11:20 a.m. Earlier in the day, the South Korean financial authorities came up with broad guidelines to provide "bold incentives, including various tax incentives," to encourage voluntary efforts by companies to boost their value. Bank shares were among the biggest losers as KB Financial Group sank 4.26 percent and Hana Financial Group shrank 5.6 percent. Leading insurers Hyundai Fire and Marine Insurance and Hanwha Life Insurance tumbled 7.5 percent and 8.86 percent, respectively. But tech shares traded in positive territory. Tech giant Samsung Electronics rose 0.27 percent and its chipmaking rival SK hynix advanced 0.25 percent. The local currency was trading at 1,331.8 won against the U.S. dollar, down 0.8 won from the previous session's close. Source: Yonhap News Agency