PRESS DIGEST - South Korean newspapers - Mar 11
SEOUL Mar 11 (Reuters) - The following is a summary of major South Korean newspapers on Friday prepared by Reuters in Seoul. Reuters has not checked the stories and does not guarantee their accuracy.
MAEIL BUSINESS NEWSPAPER
- Major South Korean shipping firms including Hyundai Merchant Marine (011200.KS) and Hanjin Shipping (117930.KS) face high fuel costs and a drop in freight charges this year, and some are forecast to return to losses in the first quarter after posting record profits last year, according to industry sources.
KOREA ECONOMIC DAILY
- Hyundai Steel (004020.KS), which holds a 35 percent share of the domestic rebar market, on Monday increased rebar prices to 895,000 won per tonne from 860,000 won per tonne, according to industry sources.
- The value of domestic construction deals received by South Korean construction firms decreased 20.9 percent in January from a year earlier to 5.78 trillion won ($5.19 billion), according to the Construction Association of Korea.
- Samsung Electronics Co (005930.KS) signed a deal with former BMW design chief Chris Bangle to design new mobile phones and netbooks, according to company sources.
- A South Korean consortium of 19 construction firms and the Korea Rail Network Authority on Wednesday submitted a preliminary proposal to a Mongolian delegation to build a railway in Mongolia that would cost 3.3 trillion won ($2.97 billion), according to builder Lotte Engineering & Construction.
(Reporting by Danbee Moon; Editing by Jonathan Hopfner)