PRESS DIGEST - South Korean newspapers - July 4

SEOUL, July 4 (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.

DONG-A ILBO

The country's corporates are expected to invest more than 20 trillion won ($19.15 billion) in local cities and provinces, after signing contracts with local authorities in the government-sponsored Korea Regional Investment Fair.

The majority Grand National Party elected Park Hee-tae, former Vice Speaker of the National Assembly, as its new leader on Thursday.

KOREA ECONOMIC DAILY

Hwang Young-ki, former chairman of Woori Financial Holdings (053000.KS: Quote, Profile, Research, Stock Buzz), was appointed the first chairman of KB Financial Holdings, which will include top South Korean lender Kookmin Bank (060000.KS: Quote, Profile, Research, Stock Buzz).

BC Card, a national credit card company in which 11 banks are shareholders, is expected to list on the South Korean stock market in three years, its CEO said.

JOONGANG ILBO

20 Buddhist groups have called for President Lee Myung-bak to stop religion-biased politics, criticising his administration for being on the side of Christians.