South Korea News Summary

The following is the second summary of major stories moved by Yonhap News Agency on Wednesday.

■ (3rd LD) Samsung, union resume last-minute talks mediated by labor minister

SEOUL -- Last-minute wage talks between Samsung Electronics Co. and its largest labor union were held Wednesday, with South Korea's labor minister personally mediating negotiations as unionized workers prepared to stage a major strike at the world's largest memory chipmaker.

About 48,000 workers are set to walk off the job for 18 days starting Thursday after management rejected a mediation proposal that the union had accepted following the latest round of government-mediated negotiations earlier in the day.

https://en.yna.co.kr/view/AEN20260520005553320

■ (LEAD) S. Korea-operated vessel passing through Strait of Hormuz: foreign minister

SEOUL -- Foreign Minister Cho Hyun said Wednesday a vessel operated by a South Korean shipping company was currently passing through the Strait of Hormuz, which, if successful, would mark the first such case involving a Korea-managed ship since the outbreak of the U.S.-Iran war.

"At this very moment, a South Korean oil tanker is exiting the Strait of Hormuz in coordination with the Iranian side," Cho said during a parliamentary committee session in Seoul.

https://en.yna.co.kr/view/AEN20260520004551315?section=national/diplomacy

■ Defamation complaint filed against Shinsegae chief over Starbuck Korea's 'Tank Day' campaign

SEOUL -- A civic group on Wednesday filed a complaint against Shinsegae Group Chairman Chung Yong-jin and Son Jung-hyun, former head of Starbucks Korea, over alleged insult and defamation stemming from the coffee chain's controversial marketing campaign that revived painful memories of a bloody pro-democracy uprising.

In the complaint filed with the Seoul Metropolitan Police Agency, the People's Welfare Countermeasure Committee demanded punishment for Chung and Son, saying Starbucks Korea's "Tank Day" coffee tumbler promotion launched on the anniversary of the May 18 Gwangju uprising constitutes insult and defamation against the bereaved families of uprising victims and Gwangju citizens.

https://en.yna.co.kr/view/AEN20260520008600315?section=national/national

■ (LEAD) Seoul shares end lower for 2nd day on foreign-selling spree; won rises

SEOUL -- South Korean stocks closed lower Wednesday, extending their losses for a second straight session, as foreign investors continued heavy selling. The local currency gained ground against the U.S. dollar.

After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) lost 62.71 points, or 0.86 percent, to close at 7,208.95.

https://en.yna.co.kr/view/AEN20260520008451320?section=economy-finance/economy

■ Rival parties gear up for official campaigning set to begin Thursday

SEOUL -- The ruling and opposition parties geared up Wednesday for the June 3 local elections and parliamentary by-elections, a day before the start of the official campaign period for the closely watched nationwide vote.

The 13-day campaign period will begin Thursday and last until the eve of the elections, with the ruling Democratic Party (DP) and the main opposition People Power Party (PPP) expected to launch full-scale campaigns to woo voters across the nation.