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S.Koreas's Donga Ilbo Owner and Chairman Resign
The Donga Ilbo, a major newspaper of South Korea, announced Friday that its honorary chairman and largest shareholder Kim Byong-kwan and chairman Oh Myong tendered their resignations effective immediately.
In a letter to the board of directors Kim said he took responsibility for the situation the newspaper was facing and would remain as a ˇ°simple shareholder.ˇ± He added that he would take full responsibility for any wrongdoing he had committed, but stated that the values of a free press should be defended against those attacking it under the guise of reform and justice.
Kim is the grandson of Kim Seong-soo, the founder of the newspaper, and had been chairman from 1989 to 1993. He became honorary chairman in February 2001.
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