Foreign investors offloaded more than one-point-six trillion won worth of Korean stocks last month as the local market remains bearish.

According to the Korea Exchange on Monday, foreigners sold a net one-point-61 trillion won worth of Korean stocks in May, extending net selloffs to a fifth consecutive month.

They sold a net one-point-28 trillion won in the country's main bourse KOSPI market and 328 billion won in the secondary tech-heavy KOSDAQ in May.

American investors dumped one-point-one trillion won worth of Korean stocks last month, while Irish investors net sold 500 billion won.

With the continued selloff, foreign ownership of South Korean stocks, which reached nearly 40 percent in early 2020, came to 26-point-eight percent at the end of May.

However, foreigners net bought one-point-37 trillion won worth of Korean bonds last month, continuing their investment in the local bond market for the 17th consecutive month since January of last year.

As of the end of May, foreign investors' holdings of South Korean bonds came to an all-time high of 225-point-eight trillion won, setting new highs every month since January of last year.