PRESS DIGEST - South Korean newspapers - Aug 4

SEOUL, Aug 4 (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.

JOONGANG ILBO

South Korea's ruling Grand National Party is considering cutting taxes including value-added tax, income tax and corporate tax.

President Lee Myung-bak is expected to meet with top North Korean official Kim Yong-nam on August 8 in Beijing, according to a source familiar with the Blue House.

DONG-A ILBO

North Korea will expel "unnecessary" South Korean staff from a tourist resort at Mt. Kumgang and strengthen military countermeasures against possible hostile action, a spokeswoman for the North Korean military unit at Mt. Kumgang said in a statement.

MAEIL BUSINESS DAILY

Samsung Electronics (005930.KS), an official Beijing Olympics sponsor, attained a 20 percent share of China's mobile phone market in June, the company said.

KOREA ECONOMIC DAILY

The Justice Ministry announced the revision of implementing ordinances regarding immigration control, making it easier for overseas Koreans and foreign investors to adopt residency in South Korea.

CHOSUN ILBO

The delisting of North Korea from the U.S. list of state sponsors of terrorism could be put off as consensus has not been reached on North Korea's nuclear programme verification system, a diplomatic source in Washington said.

Kathleen Stephens will be the next U.S. Ambassador to South Korea as early as late this month, replacing outgoing Ambassador Alexander Vershbow, as she received Senate confirmation.