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The following is the first summary of major stories moved by Yonhap News Agency on Wednesday.
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■ Seoul shares up 6 pct to over 7,300 late Wed. morning on chip rally, hopes for peace in Middle East
SEOUL -- South Korean stocks traded 6 percent higher to stay above the unprecedented 7,300-point mark Wednesday led by strong gains in semiconductor shares and rising optimism for a peace deal between the United States and Iran.
Opening 2.25 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) extended gains, adding 418.82 points, or 6.04 percent, to an all-time intraday high of 7,355.81 as of 11:20 a.m.
https://en.yna.co.kr/view/AEN20260506005100320
The dealing room at Woori Bank in Seoul on May 6, 2026 (Yonhap)
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■ Trump says S. Korean-operated ship 'shot at' by Iran after deciding to 'go it alone'
WASHINGTON -- U.S. President Donald Trump claimed Tuesday that a South Korean-operated cargo ship was "shot at" by Iran earlier this week after deciding to "go it alone."
Trump made the remarks during an event at the White House, a day after he wrote on social media that Iran had "taken some shots" at the ship and other targets, and that it is time for South Korea to join a mission to free up shipping in the crucial Strait of Hormuz.
https://en.yna.co.kr/view/AEN20260506000300315?section=national/diplomacy
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■ Lee says 'partial, phased' constitutional revision would be 'realistic'
SEOUL -- President Lee Jae Myung on Wednesday stressed the need for a constitutional amendment, arguing the Constitution may now be outdated.
In a televised Cabinet meeting, the president also highlighted a need to amend the Constitution partially and gradually if necessary.
https://en.yna.co.kr/view/AEN20260506004600315?section=national/politics
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■ (News Focus) S. Korea's dilemma over role in Strait of Hormuz deepens with ship blast, U.S. pressure
SEOUL -- A recent explosion on a South Korean-operated ship in the Strait of Hormuz has put South Korea in a tricky position over its role in helping reopen the vital waterway amid mounting U.S. pressure on Seoul to join efforts to secure transit in the strait.
A fire broke out on a cargo ship, operated by South Korean shipper HMM Co., in waters off the United Arab Emirates on Monday, with no casualties reported.
https://en.yna.co.kr/view/AEN20260506003200315?section=national/diplomacy
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■ Inflation expected to rise further in May due to high oil prices: BOK
SEOUL -- Inflation is projected to rise further this month, driven by higher oil prices amid ongoing tension in the Middle East, the central bank said Wednesday.
"With oil prices remaining high, inflation in May is expected to rise further due to base effects from agricultural, livestock and fishery product prices, (which fell sharply last year)," Bank of Korea (BOK) Senior Deputy Gov. Yoo Sang-dai said during a meeting to review inflation trends.
https://en.yna.co.kr/view/AEN20260506003800320?section=economy-finance/economy
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■ (LEAD) Presiding judge of ex-first lady's appeals trial found dead
SEOUL -- The presiding judge of former first lady Kim Keon Hee's appeals trial on corruption charges was found dead outside a Seoul court early Wednesday, officials said.
Police discovered judge Shin Jong-o's body on a flower bed at the Seoul High Court compound in southern Seoul at around 1 a.m. after receiving a report about an hour earlier.
https://en.yna.co.kr/view/AEN20260506002551315
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