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PRESS DIGEST - South Korean newspapers - Feb 28

28 Feb 2007 00:00:06 GMT
Source: Reuters

SEOUL, Feb 28 (Reuters) - The following is a summary of major South Korean newspapers on Wednesday, prepared by Reuters in Seoul. Reuters has not checked the stories and does not guarantee their accuracy.

CHOSUN ILBO

- POSCO's <005490.KS> Chief Executive Lee Ku-taek says he is planning on buying at least two foreign steel-making companies this year.

- Samsung Economic Research Institute predicts South Korea's economy will grow 4.3 percent this year and gross domestic product will not reach $20,000 per capita.

- A Financial Supervisory Service report said the sharp increase in housing prices is due to failed governmental policies.

DONG-A ILBO

- GM Daewoo Automotive and Technology Co., a General Motors Corp. <GM.N> unit, says it is pushing to relocate a car plant in South Korea to China, and relocate other local plants to China and India gradually.

- South Korea's national competitiveness is behind that of Singapore, Hong Kong, and even China and Malaysia, according to Seoul National University professor Cho Dong-sung.

- Roger Kornberg of Stanford University will be the first Nobel Prize winner to be teaching at a South Korean university as a professor.

MAEIL BUSINESS NEWSPAPER

- Hyundai Motor Co. <005380.KS> and General Electric <GE.N> have jointly developed an environment-friendly car and will unveil the model in the Swiss Geneva Motor Show next month.

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Last updated:Wed Feb 28 00:01:11 2007