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Yonhap News Summary

Yonhap News Summary 17:01 January 12, 2022

The following is the second summary of major stories moved by Yonhap News Agency on Wednesday.

U.S. allows S. Korea to pay compensation to Iranian investor over ISDS ruling

SEOUL -- The United States has authorized the South Korean government to send overdue compensation to Iran's Dayyani Group under a 2018 investor-state dispute settlement (ISDS), Seoul's foreign ministry said Wednesday.

The U.S. Treasury Department's Office Foreign Assets Control (OFAC) issued a "specific license" on Jan. 6 to allow the Seoul government to pay compensation to the Iranian investor over a failed takeover of Daewoo Electronics dating back to 2010, according to the ministry.

(LEAD) S. Korea, India to resume talks on upgrading trade pact next month

SEOUL -- South Korea and India have agreed to resume negotiations to upgrade their bilateral trade pact next month after more than two years of hiatus, Seoul's trade ministry said Wednesday.

The two nations implemented the Comprehensive Economic Partnership Agreement (CEPA) in January 2010 and began talks to upgrade the pact in 2015.

Accuser in Lee's legal fee controversy found dead

SEOUL -- A civic activist, who first raised allegations that ruling party presidential candidate Lee Jae-myung paid legal fees by proxy in 2018, has been found dead at a motel in Seoul, police said Wednesday.

The body of the 54-year-old, identified only by his surname Lee, was discovered by an employee of the motel in the southwestern ward of Yangcheon at 8:35 p.m. Tuesday, according to the Seoul Yangcheon Police Station. His family had reported to police that he had been out of contact for several days.

Moon urges people to get booster shots amid omicron concerns

SEOUL -- President Moon Jae-in on Wednesday called for more people to get their third COVID-19 vaccine shot as health authorities feared a further spread of the omicron variant.

Moon voiced his concerns about the spread of the highly transmissible variant during a luncheon with leaders of the country's seven largest religions at Cheong Wa Dae.

(LEAD) S. Korea approves Novavax COVID-19 vaccine

SEOUL -- South Korea's drug safety agency on Wednesday authorized the use of U.S.-based biotechnology company Novavax Inc.'s COVID-19 vaccine.

The protein-based vaccine, Nuvaxovid, marks the fifth COVID-19 vaccine to get approval for use here, following the ones by British-Swedish pharmaceutical giant AstraZeneca and Oxford University, Pfizer Inc., Johnson & Johnson and Moderna Inc.

(LEAD) EU set to veto merger of S. Korean shipbuilders: sources

SEOUL -- European Union regulators are set to veto Hyundai Heavy Industries Co.'s proposed acquisition of its smaller rival Daewoo Shipbuilding & Marine Engineering Co., citing monopoly issues, industry sources said Wednesday.

Within this week, the EU's antitrust regulator will likely announce its decision to block the merger of the South Korean shipbuilders, arguing the tie-up could create a monopoly in the LNG ship market amid rising energy prices, a person familiar with the matter told Yonhap News Agency.

K League scoring champion on nat'l team snub: 'I have to be better'

SEOGWIPO, South Korea -- One of the great mysteries in South Korean football in recent months has been the continued absence of Jeju United striker Joo Min-kyu on the senior men's national team.

Though he won the scoring title in the top-flight K League 1 last year with 22 goals in 34 matches, Joo has been consistently overlooked by national team head coach Paulo Bento. The Portuguese boss has sidestepped questions about not picking Joo on multiple occasions, saying he doesn't just look at a player's goal totals and he makes his selections based on players' potential fit into his system.

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