Yonhap News Summary

South Korea's President Lee Jae Myung announced on Wednesday that the nation should identify and cultivate seven new industries as key growth engines and strategic assets for the future, in an era of artificial intelligence and beyond. These industries, including semiconductors, will serve as the foundation for the country's economic growth.

Seoul's stock market experienced a significant rally on Wednesday, with major chipmakers driving the market higher. The Korean won also strengthened against the U.S. dollar during the trading session. The benchmark Korea Composite Stock Price Index (KOSPI) surged 3.68 percent to close at 6,579.04, marking its third consecutive day of gains.

Asiana Airlines Inc., South Korea's second-largest carrier, announced on Wednesday that its shareholders had approved the merger with larger rival Korean Air Co. The acquisition process, which had been ongoing for nearly six years, was finalized through an extraordinary shareholders' meeting. The merger is expected to create a stronger rival in the domestic airline market.