President Lee Myung-bak of South Korea promised to implement a "press-friendly policy" that will help print and broadcasting firms cope with the rapidly evolving media environment.

Although it is speculation, the President's remarks suggest a government plan to replace the current Newspaper Law, thus granting print outlets more autonomy.

The current law essentially forbids integration, prohibiting Korean print and broadcasting media from encroaching on each other's territory, reports AsiaMedia.

"I understand that several local print media firms faced formidable business challenges as there were significant changes in the media industry (in a short timeframe over the past decade)," said the President.

The speech was given to commemorate the 52nd annual Newspaper Day.

Source: European Journalism Centre, AsiaMedia through IFRA Executive News Service,