Yonhap News Summary

▲ The dealing room at Hana Bank in Seoul on May 13, 2026 (Yonhap)

Yonhap News Summary

Yonhap News Summary

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

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■ (2nd LD) Seoul shares sharply rebound to end at fresh peak on tech rally; won drops

SEOUL -- South Korean stocks rebounded by more than 2 percent to settle above the 7,800-point mark Wednesday as investors scooped up semiconductor and auto shares amid lingering Middle East tensions ahead of the U.S.-China summit. The local currency declined against the U.S. dollar.

Opening 1.69 percent lower, the benchmark Korea Composite Stock Price Index reversed course to close at 7,844.01, up 200.86 points, or 2.63 percent.

https://en.yna.co.kr/view/AEN20260513009452320?section=economy-finance/economy

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■ Seoul mulling possible role in U.S. freedom of navigation initiative in Hormuz: security adviser

SEOUL -- South Korea is reviewing a possible role in a U.S. initiative aimed at restoring freedom of navigation in the Strait of Hormuz, a senior presidential official said Wednesday.

National Security Adviser Wi Sung-lac made the remarks following an apparent attack on a South Korean-operated vessel last week in the crucial waterway that has effectively been shut down since U.S.-Israeli strikes on Iran in late February.

https://en.yna.co.kr/view/AEN20260513011200315?section=national/politics

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■ (News Focus) South Korea's AI chip boom sparks labor dispute at Samsung, profit-sharing debate

SEOUL -- South Korea's chip giants have reaped windfall gains from the artificial intelligence (AI)-driven semiconductor supercycle, but their soaring profits are also fueling a broader debate over how the gains should be shared among workers, investors and the broader public.

Samsung Electronics Co. and SK hynix Inc. posted record earnings last year on soaring demand for high-bandwidth memory (HBM) chips used in AI systems and data centers, with their combined operating profits reaching 90 trillion won (US$61 billion) in 2025.

https://en.yna.co.kr/view/AEN20260513011400320?section=economy-finance/economy

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■ (LEAD) Cheong Wa Dae vows to support dialogue for resolution of Samsung Electronics wage dispute

SEOUL -- Cheong Wa Dae said Wednesday it plans to actively support dialogue between Samsung Electronics Co. and its labor union to resolve a wage dispute ahead of a threatened strike.

The remark by senior presidential spokesperson Kang Yu-jung came hours after government-led wage negotiations fell through amid sharp differences over performance-based bonuses tied to the company's record-high earnings.

https://en.yna.co.kr/view/AEN20260513008751315?section=national/politics

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■ 6-term lawmaker Cho Jeong-sik named candidate for National Assembly speaker

SEOUL -- The ruling Democratic Party (DP) on Wednesday elected Rep. Cho Jeong-sik, a six-term lawmaker, as its candidate for the next parliamentary speaker.

The 63-year-old beat Kim Tae-nyeon and Park Jie-won, both five-term lawmakers, in a vote cast by party lawmakers and members.

https://en.yna.co.kr/view/AEN20260513005800315?section=national/politics

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