PRESS DIGEST - South Korean newspapers - Sept 7
SEOUL, Sept 7 (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
The head of the ruling Grand National Party, Park Hee-tae, will resign on Monday to run for a parliamentary by-election in Gyeongsang province, with party supreme council member Chung Mong-joon set to succeed him, the party's chief secretary said on Sunday.
The government is considering submitting a 290 trillion won ($234.8 billion) budget bill for 2010, a slight reduction from this year's 301.8 trillion won ($244.4 billion), to the regular National Assembly session, a high-ranking official said on Sunday.
MAEIL BUSINESS NEWSPAPER
The government will lift value added taxes and tariffs on H1N1 flu vaccines and medications, according to the finance ministry on Sunday.
The Japan Bank for International Cooperation and Mizuho Corporate Bank, an affiliate of Mizuho Financial Group Inc (8411.T), agreed to provide trade finance support of 20 billion yen ($215.1 million) to Korea Development Bank (KDB), according to KDB's Tokyo branch.
KOREA ECONOMIC DAILY
Kumho Tire Co (073240.KS) said management and union representatives had reached an agreement and its operations had normalised from Sunday with workers ending a four-month partial strike.
THE KOREA TIMES
The Seoul Administrative court ruled last week that profits from the trading of "cyber money" used in online games should be subject to a 10 percent value added tax. ($1=1235.0 Won) ($1=92.99 Yen)
