We say that $x ∈ S$ is the minimum element of $S$ (with respect to the generalized inequality $≼_K$) if, for every $y ∈ S$, we have $x ≼_K y$.
We say that $x ∈ S$ is a minimal element of $S$ (with respect to the generalized inequality $≼_K$) if, for every $y ∈ S, y ≼K x$ we have $y = x$.
We can describe minimum and minimal elements using simple set notation. A point $x ∈ S$ is the minimum element of S if and only if $S ⊆ x + K$. Here $x + K$ denotes all the points that are comparable to $x$ and greater than or equal to $x$ (according to $≼_K$ ). A point $x ∈ S$ is a minimal element if and only if $(x − K) ∩ S = {x}$.
Your definitions are incorrect.
Let's look at an example. Consider $\mathbb{C}$ equipped with the partial order induced by $|\cdot|$. The minimal points of $\{z:3\leq |z|\leq 5\}$ are the set $\{z:|z|=3\}$, but the function $f(z)=|z|$ has a minimum value of $3$ on that set. When talking about the output of the function, there is a unique smallest output, and so it's the minimum. When talking about the input there are multiple points that give rise to the smallest output, so those are minimal points.
A minimum point is always minimal, but the converse statement is not true in general. However, it is true for total orders.