Seoul shares up 3 pct on exporters, financials

SEOUL, Nov 26 (Reuters) - South Korean stocks extended initial gains to be up more than 3 percent on Monday as exporters including LG Electronics Inc (066570.KS: Quote, Profile, Research, Stock Buzz) rose on reports of strong U.S. activity at the beginning of the holiday shopping season.

Financials such as Kookmin Bank (060000.KS: Quote, Profile, Research, Stock Buzz) also advanced on weakened credit concerns after a media report of a plan by major U.S. banks to relieve the credit markets.

The Korea Composite Stock Price Index (KOSPI) was up 3.03 percent to 1,826.55 points by 0148 GMT after rising as much as 3.05 percent.

Shares in LG Electronics, the world's top maker of household air conditioners, jumped 6.06 percent to 99,700 won and South Korea's top lender Kookmin rose 2.24 percent to 63,900 won. (Reporting by Cheon Jong-woo; Editing by Keiron Henderson)