South Korean health authorities will announce this week their conclusion on whether or not to approve the use of AstraZeneca's vaccine for the elderly in the nation amid lingering concerns on the vaccine's efficacy and safety overseas. 

The Ministry of Food and Drug Safety said on Monday that its final assessment committee on the British-Swedish firm-produced vaccines will hold a meeting at 10 a.m. on Wednesday and announce its decision at 2 p.m. 

The ministry committee review is the final of the three-phase deliberation process, which started with outside experts who issued a majority view that it is okay to administer the vaccine to adults of all ages. 

The second review group - panels consisting of pharmacists - however, were more cautious. They said while it can be given to people over the age of 18, discretion is still needed with seniors, citing a lack of study on effectiveness. The group said a prudent decision should be made based on the Korea Disease Control and Prevention Agency’s deliberations. 

South Korea has signed a deal through which it will directly purchase from the firm doses sufficient for ten million people in addition to AstraZeneca doses to be secured through the global vaccine supplying initiative COVAX Facility.