UPDATE 2-S.Korea vows vigilance over Dubai; markets bounce

* Finance officials start emergency meeting

* Stocks, currency rebound after Friday's declines

* South Korea already sensitive to global financial jitters

(Updates with markets)

By Yoo Choonsik

SEOUL, Nov 30 (Reuters) - South Korean stocks and currency rebounded early on Monday as investors steadied their nerves after last week's sharp selloff over worries about Dubai's debt crisis and after the government pledged to stay vigilant.

The main Seoul stock market's KOSPI rose more than 1.5 percent and the won KRW= was up 1 percent against the dollar, both reclaiming some of the ground lost on Friday on concerns about a spillover from the Dubai instability.

Just before markets opened, Vice Finance Minister Hur Kyung-wook held an emergency meeting with senior officials from the government and the central bank.