(Corrects headline to longest in nearly 3 years, not 2 years)

* KOSPI falls, foreigners net sellers

* Korean won strengthens against dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Dec 22 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares fell on Friday but posted an eighth straight weekly gain on expectations the U.S. Federal Reserve would cut interest rates soon. The won strengthened, while the benchmark bond yield rose.

** The benchmark KOSPI closed down 0.51 points, or 0.02%, at 2,599.51. For the week, the index rose 1.4%, and its eight-week gaining streak is the longest since early January 2021.

** Wall Street advanced on Thursday after recovering from a broad sell-off in the prior session, with latest data adding to expectations that borrowing costs could ease next year.

** Data showed U.S. gross domestic product increased at a 4.9% annualized rate last quarter, revised down from the previously reported 5.2% pace, while weekly jobless claims increased slightly.

** Among index heavyweights, chipmaker Samsung Electronics rose 1.20% and peer SK Hynix gained 0.07%, while battery maker LG Energy Solution slid 0.83%.

** Hyundai Motor added 0.15% and sister automaker Kia Corp gained 0.21%, while search engine Naver and instant messenger Kakao were down 0.69% and unchanged, respectively.

** Of the total 939 traded issues, 436 shares advanced, while 431 declined.

** Foreigners were net sellers of shares worth 36.1 billion won on the main board on Friday.

** The won ended onshore trade at 1,303.0 per dollar, 0.16% higher than its previous close at 1,305.1.

** In offshore trading, the won was quoted at 1,302.0 per dollar, down 0.6% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,299.1.

** The KOSPI has risen 16.24% so far this year, but gained 7.1% in the previous 30 trading sessions.

** The most liquid three-year Korean treasury bond yield fell by 0.2 basis points to 3.235%, while the benchmark 10-year yield rose by 0.6 basis points to 3.308%. (Reporting by Cynthia Kim; Editing by Rashmi Aich)