Seoul shares down 6 pct on grim outlook

SEOUL Oct 24 (Reuters) - Seoul shares extended falls on Friday morning, with the benchmark index slumping 6 percent and set to record its worst week in a decade as investors scurried to unload their shareholdings on growing global recession fears.

The Korea Composite Stock Price Index .KS11 slid 6.1 percent to 986.21 as of 0238 GMT, the worst intraday level since mid-June, 2005.

The KOSPI index has fallen 16.4 percent so far this week, poised for the biggest weekly decline since the 1997 Asian financial crisis when it lost 17.4 percent. The index was more than halved from its record high of 2,085.45 on November 1, 2007.

Samsung Electronics (005930.KS) led the losses, down 5.1 percent, as investors largely ignored its solid quarterly results and instead fretted over difficult times ahead. (Reporting by Seo Eun-kyung; Editing by Keiron Henderson)