PRESS DIGEST - South Korean newspapers - June 29
SEOUL, June 29 (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
President Lee Myung-bak is considering reshuffling the cabinet and possibly replacing the prime minister during the summer, a Grand National Party official said.
Talks concerning support for GM Daewoo have been halted but are likely to be resumed after its parent, General Motors Corp GMGMQ.PK, decides on a detailed restructuring plan in August or September, according to a source on the GM Daewoo creditor side.
South Korea's POSCO (005490.KS) said it would raise the prices of hot-rolled stainless steel by 10 percent to 2.8 million won ($2,190) and cold-rolled stainless steel by 9 percent to 3.07 million won ($2,401) from Monday.
KOREA ECONOMIC DAILY
The ruling and two opposition parties aim to reach agreement on a bill regarding contract workers on Monday and are likely to submit it during Tuesday's parliamentary session, according to the parties' chief negotiators for the labour committee.
South Korea has become a committee member of the Financial Stability Board (FSB) at its inaugural meeting held in Basel, Switzerland, South Korea's Financial Supervisory Commission said on Sunday.
Korea Land Corp said on Sunday it has been picked as a preferred negotiator for a 550-million-square-meter city planning project in Kigamboni, Tanzania.
THE HANKYOREH
The court-appointed administrators of Ssangyong Motors (003620.KS) said late on Saturday that if a strike continues, the South Korean car maker could face bankruptcy. ($1=1278.3 Won)
