Abu Dhabi, Dec. 15th, 2008)-The Emirates News Agency (WAM) and the Hankook Ilbo Media Group, the parent company of South Korea's leading English daily newspaper The Korea Times, today signed a memorandum of understanding (MOU) pertaining to a cooperative partnership.

Under the agreement, the two media conglomerates will exchange news reports, photographs and other forms of bilateral cooperation.

The agreement was signed and endorsed on behalf of WAM by Ibrahim Al Abed, Director General of Emirates News Agency and on behalf of Hankook Group by its Chairman Chang Jae-ku.

The deal will also allow the two sides to exchange reports and photos online, media coverage of events, data processing, editing and transmission of reports and exchanges of visits with the aim of acquiring best practices and improving performance.

The Hankook Ilbo Media Group, as well as being the parent company of The Korea Times owns one of the country's four major dailies .The Korean media group also has several other publications and a cable TV network under its umbrella.

Chang expressed keen interest in having United Arab Emirates reports directly through WAM. He stressed the need for the two sides to exchange news reports to reflect the growing relations between the two countries.

As of now, WAM has relations with over 6,000 media institutions in 97 countries including South Korea. WAM news is relayed via Websites in English, Spanish, French, Portuguese and Swahili to newspapers, broadcast stations and TV channels worldwide.

The number of WAM news reports translated and broadcast during the first six months of 2008 stood at 4,643 (WAM/MA)