PRESS DIGEST - South Korean newspapers - July 7
SEOUL, July 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.
DONG-A ILBO
Cars belonging to public offices will be driven only every other day as part of the measures announced by the South Korean government to deal with soaring oil prices, the Prime Minister's office said.
Restaurants of all sizes, including fast food restaurants and school cafeterias, must specify the country of origin for any beef they use from tomorrow, according to the Ministry of Agriculture.
CHOSUN ILBO
Foreign investors cashed out of 6 trillion won ($5.72 billion) worth of South Korean stocks over the past 20 days, the Korean Exchange said.
Top South Korean dailies, including the Chosun, JoongAng and Dong-a Ilbo, have stopped supplying news to Internet portal operator Daum Communications (035720.KQ), claiming that Daum has turned a blind eye to the defamatory activities of netizens.
MAEIL BUSINESS NEWSPAPER
Daewoo Shipbuilding and Marine Engineering Co Ltd (042660.KS) and POSCO Engineering & Construction Co have agreed to join a bid for a 1 trillion won ($953.6 million) oil sands project to be placed by Petro-Canada PCA.TO, according to industry sources.
The finance ministry and the Bank of Korea agreed to support the won by releasing some of the country's foreign exchange reserves, in an effort to stabilise price inflation, the government said.
JOONGANG ILBO
The Blue House will announce a ministerial reshuffle as early as July 7, a Blue House official said, with about 3 to 4 ministers expected to be replaced.
