* KOSPI rises, foreigners net buyers

* Korean won weakens against dollar

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Feb 28 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose 1% on Wednesday after a two-session slide, as a pledge by authorities to come up with stronger corporate reform measures re-ignited investor hopes for improved shareholder policies from companies.

** The benchmark KOSPI closed 27.24 points, or 1.04%, higher at 2,652.29.

** South Korea's market watchdog chief said authorities were discussing possible penalties for companies that failed to boost shareholder returns in the long run.

** "His comments raised hope that the 'value-up' programme is not done with the announcement on Monday but will continue, at least until the election in April," said Na Jeong-hwan, an analyst at NH Investment Securities.

** South Korea's exports likely rose in February for a fifth straight month, led by chip shipments, according to a Reuters poll.

** Shares of automakers and banks, which are seen among the undervalued stocks and seen to have potential for improving shareholder returns, rallied.

** Hyundai Motor rose 3.98% and sister automaker Kia Corp gained 4.53%, while the Finance-Major Index ended up 1.51%.

** Of the total 933 traded issues, 561 shares advanced, while 304 declined.

** Foreigners were net buyers of shares worth 458.5 billion won ($343.60 million) on the main board, marking their biggest daily purchase since Feb. 19.

** The won ended onshore trade at 1,333.6 per dollar, 0.19% lower than its previous close at 1,331.0.

** In money and debt markets, March futures on three-year treasury bonds rose 0.01 point to 104.61.

** The most liquid three-year Korean treasury bond yield fell by 0.6 basis point to 3.358%, while the benchmark 10-year yield rose by 1.4 basis points to 3.443%. ($1 = 1,334.4100 won) (Reporting by Jihoon Lee; Editing by Subhranshu Sahu)