Round-up of South Korean financial markets:

 

** South Korean shares extended losses on Wednesday on profit-booking pressures, but recovered some of their early losses as the country's pension fund vowed to support the government's corporate reform plan.

** The benchmark KOSPI closed down 0.17% at 2,653.31, after falling as much as 0.52% earlier.

** "The KOSPI fell on profit-taking, while some stocks of low valuations recovered early losses on the news about the pension fund," said Seo Sang-young, analyst, Mirae Asset Securities.

** South Korea's public pension fund said it would invest in locally-listed companies that are working to boost their value, joining in the government's efforts to boost undervalued stocks.

** Shares of automakers and financials, often considered undervalued stocks, cut early losses, with Hyundai Motor closing down 1.03% and sister automaker Kia Corp up 0.60%. The Korea Exchange Bank Index erased early declines to 0.8%.

** Chipmakers fell, with Samsung Electronics and SK Hynix down 0.41% and 0.40%, respectively, as investors awaited U.S. chipmaker Nvidia's earnings later in the day.

** South Korea's exports for Feb. 1-20 fell 7.8% from a year ago, as there were fewer working days due to the timing difference in the Lunar New Year holidays.

** The Bank of Korea is expected to keep interest rates steady on Thursday.

** Foreigners were net sellers of local shares worth 103.6 billion won ($77.61 million).

** It was their third session of selling and the biggest daily sale since Jan. 18, but foreign buying for this month still stands at 6.6 trillion won.

** The won ended onshore trade 0.22% higher at 1,334.7 per dollar.

** The most liquid three-year Korean treasury bond yield was flat at 3.403%, while the benchmark 10-year yield fell 1.5 basis points to 3.474%. ($1 = 1,334.9000 won) (Reporting by Jihoon Lee; Editing by Rashmi Aich)