Seoul: The Seoul government was set to announce the outcome of its probe into a recent attack on a South Korean vessel in the Strait of Hormuz, officials said Wednesday. A press briefing will be held later in the day at the foreign ministry, according to ministry officials. According to Yonhap News Agency, South Korean stocks rose for the fourth consecutive session to a new peak of over the 8,200-point mark Wednesday, driven by a strong rally by Samsung Electronics and SK hynix. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 181.19 points, or 2.25 percent, to close at a record 8,288.7, after rising as high as 8,457.09. Samsung Electronics Co.'s unionized workers voted to approve a wage agreement that includes a substantial bonus package for chip workers, the union said Wednesday, easing concerns over potential disruptions to the global supply chain. In the six-day vote, 73.7 percent of the 62,616 members of the tech giant's two largest union s approved the tentative deal. The agreement was finalized after a majority of eligible voters took part in the vote and a majority voted in favor of the proposal. The prosecution said Wednesday it will launch a team to investigate the collapse of an overpass in Seoul that killed three people and injured three others the previous day. The Seoul Western District Prosecutors Office said in a notice to the press that the 11-member team, including four prosecutors and six investigators, will work closely with the police and labor officials to determine the cause of the accident and who is responsible, and provide swift assistance to the victims. President Lee Jae Myung on Wednesday warned against some businesses in Busan that have sharply raised their prices ahead of upcoming concerts there by K-pop superband BTS, insisting that such a short-sighted business practice may tarnish the image and eventually the economy of the entire city. "Busan seems to need reform as it is losing its image because of so-called pr ice gouging related to BTS concerts," Lee said during an event in the southeastern city.
