The Seoul Metropolitan Police Agency questioned Yang Jong-hwan, head of Shinsegae Group’s audit team, as a witness on Wednesday, according to a company spokesperson. The inquiry is linked to public complaints filed over Starbucks Korea’s “Tank Day” reusable cup promotion held on May 18.

The campaign sparked nationwide outrage because it took place on the 46th anniversary of the 1980 Gwangju uprising, a pro-democracy movement that was violently suppressed by military forces. Official figures state that 165 civilians were killed during the crackdown, although activists and historians have long argued the actual death toll was significantly higher.

Starbucks Korea operates more than 2,000 stores nationwide under a licensing agreement with Shinsegae Group, making South Korea one of the coffee chain’s most important international markets. The controversy quickly escalated into a major corporate crisis, prompting Shinsegae to dismiss the head of its Korean operations on the day the scandal emerged.

Shinsegae Chairman Chung Yong-jin later issued a public apology, acknowledging the seriousness of the incident and expressing regret for the distress caused to victims’ families, survivors and the wider public.

Despite those measures, a civic organization filed a legal complaint against Chung and other company executives. The complaint alleges violations of a 2016 law related to the Gwangju uprising, including provisions prohibiting the dissemination of false information about the historical event. The filing also includes allegations of defamation and insult.

The company said it would cooperate fully with investigators and hoped the facts surrounding the case would be clarified promptly and transparently. Police have not publicly commented on the investigation.

The backlash has had tangible business consequences. According to the company, sales declined sharply in the days immediately following the controversy as public anger intensified. Demonstrations were held in both Seoul and Gwangju, with critics accusing the company of insensitivity toward a defining moment in South Korea’s democratic history.

In response, Starbucks Korea announced that all stores nationwide will close for half a day next Monday to allow employees to attend educational sessions on the Gwangju uprising. Senior executives, including Shinsegae’s chairman, are scheduled to participate in a separate history program later in the week.

An internal review by Shinsegae concluded that a series of procedural failures contributed to the launch of the campaign, including the approval of promotional materials without adequate review of design content and timing.

The controversy also drew criticism from President Lee Jae Myung, who described the incident as “inhumane” and “disgraceful,” reflecting the sensitivity that still surrounds the legacy of the Gwangju uprising more than four decades after it became a symbol of South Korea’s democratic struggle.

The investigation remains ongoing.

The U.S. Senate’s progress toward passing a funding bill to end the 40-day shutdown sparked a positive wave throughout global financial markets. Investors welcomed the news as a sign of political stability and economic reassurance, boosting confidence in both short-term and long-term growth.

Wall Street reacted immediately, with Nasdaq futures jumping 1.5% and S&P 500 futures rising 0.9%, signaling a strong start for the trading week. The optimism reflected investors’ belief that the U.S. economy would soon regain momentum once the government resumes full operations.

European shares also joined the rally, with the STOXX 600 index climbing 1.4%, led by a sharp rise in Diageo’s stock following the appointment of a new CEO. The upward movement reflected growing trust in global corporate strength and leadership transitions that support market resilience.

Analysts described the Senate’s action as a “turning point” that could help stabilize both domestic and international markets. Global investors viewed this development as an indication that policymakers are aligning efforts to ensure fiscal continuity and economic balance.

In Asia, the positive mood carried over as China’s CSI300 index closed up 0.4% and Hong Kong’s Hang Seng Index rose 1.6%, reversing early losses. Improved economic data from China, showing easing deflation and stronger consumer prices, added to the overall global market optimism.

The U.S. 10-year Treasury yield edged higher to 4.13%, signaling investor confidence in long-term stability. Bond markets reflected a “risk-on” sentiment, as traders moved toward equities while still maintaining allocations in quality fixed-income assets for diversification.

Meanwhile, gold prices surged by 2.5%, hitting a two-week high at $4,097 an ounce. The precious metal benefited from expectations of a Federal Reserve rate cut, weaker economic data, and a softer U.S. dollar. Despite volatility, the market mood remained clearly optimistic.

Economic advisors pointed out that a resolution to the shutdown would likely restore consumer sentiment and prevent negative GDP growth. The reopening of federal operations is expected to boost employment confidence and encourage stronger consumer spending during the upcoming holiday season.

Experts at UBS Global Wealth Management suggested that investors should maintain a balanced portfolio by combining equities, bonds, and commodities. They emphasized that AI and technology-driven sectors continue to present transformational growth opportunities for investors seeking long-term returns.

In currency markets, the U.S. dollar strengthened slightly, regaining ground after last week’s losses. It rose 0.44% against the yen, trading at 154.11, while remaining steady against the euro and sterling. Traders remain cautiously optimistic about the Fed’s policy path, with markets pricing in a 63% chance of a December rate cut.

Oil markets also experienced gains, with Brent crude climbing to $63.92 per barrel and U.S. crude at $60.02. The rebound in oil prices underscores expectations of renewed energy demand once U.S. government operations resume and infrastructure projects regain pace.

Investors globally are viewing this period as a chance to rebuild market momentum and confidence. The potential end of the U.S. shutdown has not only strengthened Wall Street but also ignited optimism across Asia-Pacific and European economies.

As global trade, manufacturing, and finance sectors recover from weeks of uncertainty, the coordinated market rebound reflects a shared belief in economic resilience and policy progress. The global rally demonstrates that optimism and collaboration can restore balance even after prolonged disruptions.

The world’s financial landscape now stands at a hopeful crossroads. With political stability returning and the U.S. government nearing full reopening, the outlook for global economic growth appears brighter than ever.