Yonhap News Agency Summaries: Elections, North Korea Nuclear Program, and Market Trends

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

■ (ROUNDUP) Ruling party wins landslide in local elections despite losing Seoul to incumbent mayor

SEOUL -- The ruling Democratic Party (DP) clinched a resounding victory in the local elections and parliamentary by-elections, winning the key mayoralty in the traditional conservative stronghold of Busan, while the main opposition party retained the Seoul mayoral seat.

The DP won 12 out of the 16 key mayoral and gubernatorial seats up for grabs, including in Busan where Jeon Jae-soo was elected mayor, while the main opposition People Power Party (PPP) took four seats, including Seoul, where incumbent Mayor Oh Se-hoon was elected to a fifth term, according to the final vote count.

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■ (3rd LD) Incumbent Seoul Mayor Oh wins reelection to secure 5th term

SEOUL -- Incumbent Seoul Mayor Oh Se-hoon of the People Power Party (PPP) won his fifth term Thursday, narrowly defeating Democratic Party (DP) candidate Chong Won-o in a tight mayoral race that was decided in the final stages of ballot counting.

Oh was declared winner shortly after 10 a.m., with 97.92 percent of ballots counted.

https://en.yna.co.kr/view/AEN20260604002853315?section=national/politics

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■ (LEAD) Election watchdog rules out postponing election, revote after ballot shortage in Seoul

SEOUL -- The election watchdog said Thursday a shortage of ballots in parts of Seoul during the previous day's local elections does not constitute grounds for postponing the election or conducting a revote under the election law.

The National Election Commission (NEC) made the remarks after holding an emergency meeting early in the day, as a shortage of ballots at some polling stations in Seoul, mostly from Songpa Ward, prompted the temporary suspension of voting in the local elections.

https://en.yna.co.kr/view/AEN20260604001551315?section=national/politics

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■ (LEAD) KOSPI snaps 3-day rise on profit-taking; won sharply down

SEOUL -- South Korean stocks fell Thursday, snapping a three-session winning streak and retreating from record highs as investors locked in profits. The local currency fell sharply against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) dropped 162.08 points, or 1.84 percent, to close at 8,639.41.

https://en.yna.co.kr/view/AEN20260604008051320?section=economy-finance/economy

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■ (2nd LD) N. Korea's Kim inspects new nuclear facility, vows to 'exponentially' bolster nuclear forces

SEOUL -- North Korean leader Kim Jong-un has visited a newly launched nuclear material production facility, vowing to "exponentially" strengthen the country's nuclear arsenal, state media reported Thursday.

Kim made the visit the previous day, accompanied by key party officials, the Korean Central News Agency (KCNA) reported, without disclosing the facility's location or other details.

https://en.yna.co.kr/view/AEN20260604001600315?section=nk/nk

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■ (LEAD) S. Korea assesses nuclear cooperation consultations with U.S. as success

SEOUL/WASHINGTON -- South Korea on Thursday assessed this week's nuclear cooperation consultations with the United States as a "success," as the two countries launched discussions to implement a set of security agreements reached by their leaders last year.

The two sides held the meeting Tuesday and Wednesday in Seoul to discuss cooperation on South Korea's push to build nuclear-powered submarines and secure civil uranium enrichment and spent nuclear fuel reprocessing capabilities.