Yonhap News Summary

The following is the second summary of major stories moved by Yonhap News Agency on Wednesday.-----------------■ Military counterintelligence command to be dismantled over alleged role in martial law bid

SEOUL -- South Korea's military counterintelligence command will be dismantled over its alleged role in former President Yoon Suk Yeol's botched martial law bid in 2024, the defense ministry said Wednesday, marking its dissolution 49 years after its establishment.

The Defense Counterintelligence Command will be disbanded and its core functions dispersed to new and existing bodies, the ministry said, in a move aimed at curbing what has been criticized as the command's unchecked authority.

https://en.yna.co.kr/view/AEN20260610006400315?section=national/defense

This photo, taken Dec. 9, 2024, shows the front entrance of the Ministry of National Defense compound, where the Defense Counterintelligence Command is located. (Yonhap)

-----------------■ (2nd LD) Seoul shares again dip over 4 pct amid U.S.-Iran tensions, tech sell-off; won down

SEOUL -- South Korean stocks plummeted more than 4 percent Wednesday amid escalating tensions between the United States and Iran and a tech slump fueled by concerns over the valuation of stocks related to artificial intelligence (AI). The local currency was trading lower against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 366.11 points, or 4.52 percent, to close at 7,730.82, almost eclipsing most of the over 8 percent surge from the previous day.

https://en.yna.co.kr/view/AEN20260610006852320?section=economy-finance/economy

-----------------■ Main opposition party elects Rep. Jeong Jeom-sig as new floor leader

SEOUL -- The main opposition People Power Party (PPP) elected three-term lawmaker Jeong Jeom-sig as its new floor leader Wednesday, days after his predecessor resigned following the party's crushing defeat in last week's local elections.

Rep. Jeong, who represents a constituency in the conservative stronghold of South Gyeongsang Province, defeated four-term lawmaker Kim Do-eup and three-term Rep. Sung Il-jong by winning 55 out of 103 votes in a runoff against Kim.

https://en.yna.co.kr/view/AEN20260610006100315?section=national/politics

-----------------■ (2nd LD) Unionized members at Kakao stage first-ever strike

SEOUL -- Unionized members at Kakao Corp. staged their first walkout in the company's history Wednesday, demanding higher bonuses and profit sharing.

The walkout and a rally took place near the messenger app operator's headquarters in Pangyo, south of Seoul, fro