SEOUL, June 15 (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.

MAEIL BUSINESS NEWSPAPER

- After the South Korea-U.S. free trade agreement is approved, duties will be immediately removed on hybrid cars made in the United States, instead of over the 10 years called for under the pact, according to the government and industry sources.

- After adopting a holding-company structure in September, CJ Corp <001040.KS>. will become a global company by seeking to buy foreign companies and by achieving 10 trillion won ($10.76 billion) in sales by 2013 in its operating company, chief executive Kim Jin-soo said.

- Meritz Fire & Marine Insurance Co. Ltd. <000060.KS> said it will establish an asset management company worth 10 billion won ($10.76 million) by April next year and is considering issuing 200 billion won ($215.2 million) worth of new shares.

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