Yonhap News Summary

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

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(LEAD) Seoul stocks set fresh high for 3rd day ahead of FOMC results

SEOUL -- South Korean stocks set a fresh high for three consecutive sessions on Wednesday as investors scooped up blue-chip shares ahead of the release of the Federal Reserve's meeting results.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 20.5 points, or 0.62 percent, to finish at 3,278.68. Trading volume was moderate at 2.2 billion shares worth 15.9 trillion won (US$14.23 billion), with gainers outpacing losers 519 to 324.

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(LEAD) eBay Korea-preferred bidder

SEOUL -- A South Korean conglomerate Shinsegae-led consortium has been picked as the preferred bidder for eBay Korea, the South Korean unit of e-commerce giant eBay, beating its local rival Lotte Shopping and heralding a seismic change in the country's e-commerce sector, industry sources said Wednesday.

The Shinsegae-Naver consortium reportedly offered some mid-4 trillion won (US$4 billion) to take over the Korean unit of the second-largest e-commerce player in the United States. Naver, the country's top internet portal operator, will fund 20 percent of the bidding price, according to the sources.

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(2nd LD) New virus cases spike to 500s amid accelerating vaccination drive

SEOUL -- South Korea's daily new coronavirus cases bounced back to over 500 on Wednesday as health authorities ramp up the country's vaccination drive with a quarter of the population receiving one jab.

The country reported 545 more virus cases, including 522 local infections, raising the total caseload to 149,191, the Korea Disease Control and Prevention Agency (KDCA) said.

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S. Korea's exports to stay brisk in H2: central bank

SEOUL -- South Korea's exports are expected to remain resilient in the second half of the year on a series of positive external factors, the central bank said Wednesday.

The upbeat forecast by the Bank of Korea (BOK) comes amid a recent surge in South Korea's overseas shipments on the back of a global economic recovery.

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Eastar Jet founder gets suspended prison term for election law violations

SEOUL -- Rep. Lee Sang-jik, an independent lawmaker and founder of budget carrier Eastar Jet, was given a suspended prison sentence Wednesday for violating election laws.

The local district court in Jeonju, 240 kilometers south of Seoul, sentenced Lee to 16 months in prison, suspended for two years.

Lee is the first sitting lawmaker of the 21st National Assembly to receive a prison term for violating election laws.

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(LEAD) Tentative deal reached to resolve overwork issues of delivery workers

SEOUL -- Logistics firms and delivery workers reached a tentative deal on Wednesday afternoon to end a protracted strike that disrupted parcel delivery nationwide, volume of which has risen significantly since the onset of the coronavirus pandemic.

Delivery workers belonging to the Parcel Delivery Workers' Solidarity Union, the government and logistics firms settled on some of the contentious points, including the date from which couriers are freed from parcel sorting duties and financial compensation for reduced working hours.

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S. Korea reports 2nd COVID-19 vaccine-induced blood clotting case

SEOUL -- South Korea has reported its second case of unusual blood clotting in a recipient of the AstraZeneca COVID-19 vaccine, health authorities said Wednesday.

The Korea Disease Control and Prevention Agency (KDCA) said the man in his 30s was confirmed to have the very rare but serious side effect, called thrombosis with thrombocytopenia syndrome, following inoculation on May 27.

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Samsung Display labor union set to go on 1st-ever strike next week

SEOUL -- The labor union of major display maker Samsung Display Co. said Wednesday its union leadership plans to go on strike next week, as the union and the management failed to narrow differences in wage talks, marking the first-ever walkout for the company and any Samsung Group affiliate.

The labor union said its six officials will first stage a walkout on Monday and will encourage more members to join the move.

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Small firms to face 52-hour workweek in July without grace period

SEOUL -- Small businesses with five to 49 employees will be required to enforce a 52-hour workweek next month as planned by the government, the labor ministry said Wednesday, rejecting industry demands for a grace period.

The Ministry of Employment and Labor said it commissioned a survey of 1,300 small businesses in April and 93 percent of them responded that they were ready to implement the system starting July 1 as scheduled. Around 82 percent said they had already begun.

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(LEAD) Air Force legal offices raided over death of sexually abused soldier

SEOUL -- Defense ministry investigators raided the offices of the Air Force's legal affairs department Wednesday over the suicide of a sexually harassed noncommissioned officer as part of a sprawling investigation into what led the victim to take her own life.

The raid took place one day after the prosecutors grilled a military public defender accused of failing to provide adequate help to the master sergeant, surnamed Lee, who allegedly suffered groping and other abuse by her colleague during a car ride back to their unit after a drinking session in March.

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