South Korean shares ended bearish on Monday as foreign investors turned to net sellers in a bid to take recent profits, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) dropped 24.28 points, or 1.24 percent, to close at 1,940.55. Trading volume stood at 407.62 million shares worth 6.33 trillion won (5. 62 billion U.S. dollars).

The KOSPI took a weak start, and extended its initial losses throughout the session as foreigners offloaded local shares after maintaining their buying streak over the past 12 sessions.

Weaker-than-expected economic growth in the United States served as a catalyst for foreign selling. The U.S. gross domestic product (GDP) expanded 2.8 percent in the fourth quarter of 2011, which missed expectations of 3 percent growth.

Adding to negatives, the global rating agency Fitch cut credit ratings of Italy, Spain, Belgium, Cyprus and Slovenia who faced financial and economic headwinds from the euro zone's debt crisis.

"Local stocks suffered correction from the recent rally. Both foreigners and local institutions pulled down stocks, but foreigners cannot be seen as trend sellers as they continued to purchase tech and steel shares," Lee Jae-man, an analyst at Dongyang Securities in Seoul, told Xinhua.

Lee projected the KOSPI to continue its correction trend for the time being, citing lingering concerns over the European fiscal crisis. Offshore investors led the market decline. Foreigners sold a net 77.7 billion won worth of local stocks, turning to net sellers in 13 sessions. Local institutions rushed to dump stocks worth 197.4 billion won, but retail investors bought a net 170.9 billion won worth of shares, limiting the KOSPI's further losses.