South Korea's KOSPI jumped more than 4 percent early on May 21, recovering the 7,500 level. Investor sentiment appeared to improve as concerns about production disruptions that had weighed on the market recently eased after Samsung Electronics' labor and management reached a tentative wage deal and postponed a general strike.

As of 9:07 a.m., the KOSPI was up 305.44 points, or 4.24 percent, at 7,514.39 from the previous session. It opened up 277.42 points, or 3.85 percent, at 7,486.37.

By investor type, individuals were net buyers of 471.2 billion won, while foreigners and institutions were net sellers of 497.5 billion won and 31.6 billion won, respectively. Foreigners have been net sellers for 11 consecutive sessions.

Most top market-cap stocks were higher. Samsung Electronics rose 4.89 percent to 289,500 won, and SK Hynix gained 3.38 percent to 1,804,000 won.

Elsewhere, SK Square was up 5.93 percent, Hyundai Motor rose 4.56 percent, LG Energy Solution gained 2.99 percent, Samsung Electro-Mechanics climbed 12.72 percent, Doosan Enerbility rose 6.81 percent, Samsung Life gained 10.42 percent, and HD Hyundai Heavy Industries rose 1.10 percent.

The early strength was largely driven by easing tensions in Samsung Electronics' labor dispute, which had been a burden through the previous day. Labor and management at Samsung Electronics signed a tentative wage agreement on May 20, and the union decided to postpone a general strike planned for May 21 to June 7 until further guidance.

As concerns over semiconductor production disruptions and supply chain disruptions from a potential strike receded, buying interest was flowing into Samsung Electronics and semiconductor shares broadly.

The Kosdaq was also up 43.79 points, or 4.15 percent, at 1,099.86 at the same time.

In the Seoul foreign exchange market, the won was down 1.60 won at 1,500.10 per U.S. dollar.