PRESS DIGEST - South Korean newspapers - Aug 25

SEOUL, Aug 25 (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

President Lee Myung-bak is to hold his third summit with Chinese counterpart Hu Jintao today to discuss a strategic partnership between the countries and pending North Korean nuclear issues.

The rate of legally residing foreign workers in South Korea marked 0.8 percent in 2005, the second to last among 21 OECD member countries, according to the OECD. Japan was last.

North Korea plans to resume the investigation into the North Korean abductions of Japanese citizens several decades ago, a thorny issue between the two countries, Japan's Tokyo Shimbun reported.

MAEIL BUSINESS NEWSPAPER

SK Group signed a memorandum of understanding (MOU) with the Chinese government for technoloy cooperation, and announced its plan to build an IT-specialised city in China.

Korea Development Bank, a state-run policy bank, turned down an offer to buy Lehman at 50 percent premium over its book value, according to the industry.

Kumho Asiana Group is considering a share writedown or buyback for Daewoo Engineering & Construction (047040.KS), but might put off the initial public offering of Kumho Life Insurance, the group's executive said.