When turning left, do you have to yield the right of way to the oncoming vehicle?

Yes, this is one of the fundamental rules of the road. According to Art. 25 para. 1 of the Road Traffic Act, a driver intending to turn left must give way to vehicles approaching from the opposite direction that are travelling straight ahead or turning right. The video shows that other vehicles are approaching from the front, and you must give way to them before making the manoeuvre.