The main index in Seoul jumped 235.48 points, or 3.2 percent, to 7,527.39 in the first minutes of trade.
SK hynix rose 3.1 percent to 2,254,000 won ($1,497) and Samsung Electronics gained 3.6 percent to 288,000 won ($191), with the chipmaker's sale of up to roughly $28 billion in ADRs drawing orders for more than seven times the shares on offer before pricing.
The rally was broad but the buying was not. Foreign investors net sold 353.3 billion won worth of KOSPI shares in early trade, while individuals bought 179.2 billion won and institutions 172.3 billion won.
Traders read the outflow as the ADR trade already at work. Some global houses have recommended buying the New York line and selling the Seoul shares, betting the ADR opens at a premium the local stock cannot immediately follow.
SK square, the holding company that owns roughly 20 percent of SK hynix, jumped 6.8 percent to 1,417,000 won ($941).
The offering consists of 177.9 million ADRs, each representing one-tenth of a common share, with regular trading under the ticker SKHY set to begin Monday after a when-issued session Friday.
The debut lands on a supportive overnight backdrop. The Nasdaq climbed 1.3 percent, and Tokyo's Nikkei closed 1.4 percent higher at 67,743.85 on Thursday.
The KOSDAQ added 16.54 points, or 2.1 percent, to 810.54. The Nikkei 225 advanced 1.3 percent and the composite index in Shanghai 1.65 percent higher.
The won traded at 1,506.10 per dollar, marginally stronger than Thursday.
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