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PRESS DIGEST - South Korean newspapers - March 26

26 Mar 2007 00:00:36 GMT
Source: Reuters

SEOUL, March 26 (Reuters) - The following is a summary of major South Korean newspapers on Monday, prepared by Reuters in Seoul. Reuters has not checked the stories and does not guarantee their accuracy.

CHOSUN ILBO

- In a Chosun Ilbo poll, 55 percent of South Korean lawmakers said they believe a South Korea-U.S. free trade agreement would benefit their country.

- North and South Korean labour organisations will hold a joint Labour Day commemoration event in Ulsan, South Korea.

- During his visit to Saudi Arabia, South Korean President Roh Moo-hyun said he will seek a free trade agreement between South Korea and the Gulf Cooperation Council.

JOONGANG ILBO

- Arcelor Mittal <MT.N> <CELR.PA> CFO Aditya Mittal told CNBC that the world's largest steel company will not attempt to take over POSCO Co. Ltd. <005490.KS>. Mittal also said the two firms are in a friendly relationship.

HANKYOREH

- In a poll by Hankyoreh, 75.3 percent of South Korean respondents said South Korea-U.S. free trade talks are more beneficial to the United States.

- South Korea has the highest tuberculosis rate out of all the Organisation for Economic Co-operation and Development members, 73.2 patients per 100,000 people.

MAEIL BUSINESS NEWSPAPER

- South Korea's household spending on alcohol and tobacco fell last year to a 17-year low at 6.75 trillion won ($7.20 billion), a 4.6 percent decrease from 2005, according to the Bank of Korea.

- Only 57 percent of the Pantech group creditors have so far approved a debt workout plan for two units, Pantech <025930.KS> and Pantech&Curitel <063350.KS>, with the deadline set at March 30, according to bond industry sources.

KOREA ECONOMIC DAILY

- Hyundai Motor Co. <005380.KS> will move to reduce costs involved in planning and producing its cars, including increasing overseas outsourcing of automobile parts, according to industry sources.

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Last updated:Mon Mar 26 00:01:47 2007