UPDATE 1-S.Korea to set $9 bln extra budget to revive growth - report

* Extra budget to focus on job creation - Yonhap

Reported value equivalent to around 1 pct of GDP

* Officials have said stimulus measures were considered

(Updates with details, ministry's response)

SEOUL, March 19 (Reuters) - South Korea will draft an extra budget spending bill worth more than 10 trillion won ($8.97 billion) this month to revive the depressed economy, Yonhap news agency reported on Tuesday, in line with market expectations.

The finance ministry plans to announce details of the package on March 26, and the extra spending would be mostly aimed at creating jobs and supporting low-income earners, it said, citing the ministry.

A presidential aide and the finance minister nominee said separately last week that the government would adopt stimulus measures but has not decided whether to draft a supplementary budget bill, which will likely require additional borrowing.

The finance ministry said in a statement, issued in response to Yonhap's report, that nothing has been decided about stimulus measures.

Policymakers had said Asia's fourth-largest economy would start to pick up momentum from late 2012, but recent indicators underscored the export-reliant economy is still weighed down by weak exports and depressed domestic consumption.

Total exports in January and February barely grew from a year earlier, while private consumption and capital investment remain subdued.

The Bank of Korea cut the policy interest rate twice last year but has since October left it unchanged at 2.75 percent.

Many investors expect the central bank to lower the policy rate at least once more as early as next month, when the government's stimulus measures will likely be ready.

Yields on the liquid three-year and five-year treasury bonds both remained below the central bank's benchmark rate, highlighting such market expectations. ($1 = 1114.7500 Korean won)

(Reporting by Se Young Lee and Lee Shinhyung; Editing by Choonsik Yoo & Kim Coghill)