The government announced on the 5th that it will invest 2.2 trillion won by 2026 to develop a domestic COVID-19 vaccine by next year, and to achieve fifth place in the global vaccine market by 2025. President Moon Jae-in announced these details at the 'K-Global Vaccine Hub Vision and Strategy' report conference held at the Blue House and Sejong Government Complex in Seoul on the afternoon of the same day, saying, "Vaccines will be selected as three major national strategic technology fields along with semiconductors and batteries." .
The government announced on the same day a plan to simplify clinical procedures, foster talents such as 200 medical scientists annually and 10,000 clinical trial personnel, and various incentives such as the K-Biolab Hub. However, it was Samsung Biologics (207940) and SK Bioscience (302440) that drew public attention.
President Moon said on the same day, "The COVID-19 vaccine developed by a domestic company is expected to enter phase 3 clinical trials this month. Although President Moon did not directly mention the company name, the industry assumed that it was SK Bioscience.
SK Bioscience submitted a phase 3 clinical trial plan (IND) for its vaccine candidate to the Ministry of Food and Drug Safety at the end of last June, and is awaiting approval around next week. Ahn Jae-yong, CEO of SK Bioscience, also attended the report meeting on this day. On the backboard of the Blue House where the meeting was held, it was written, “A country strong in crisis, a strong Republic of Korea.”
Minister of Welfare Kwon Deok-cheol confirmed this at a joint briefing of 11 government ministries held at the Seoul Government Complex right after the report meeting on the same day. Minister Kwon answered, "The most advanced vaccine currently being developed is a recombinant protein vaccine."
Muk Hyun-sang, head of the National New Drug Development Foundation, who attended as a private member, mentioned SK Bioscience and said, “(Protein Synthetic Antigen Vaccine) is the vaccine that mankind has been using for the longest time.” SK Bioscience is developing a protein-synthetic antigen vaccine.
If SK Bioscience was indirectly mentioned as a leader in the development of 'domestic Baeksan', Samsung Biologics made full disclosure of the progress of consignment production of mRNA (messenger ribonucleic acid) vaccine signed with Modernna of the United States.
Minister Kwon said in his remarks, “Samsung Biologics is planning to start trial production of the Moderna mRNA vaccine from the end of August this year.” The industry has been predicting that Samsung Biologics will start producing the Moderna vaccine from August. However, there was a response that it is unusual for the government to announce the supply period of products under a contract production contract by a private company.
However, it is observed that there may have been a consensus over the fact that Samsung BioLogics president John Lim also attended the Blue House report meeting on the same day. Earlier, Prime Minister Bu-gyeom Kim appeared on the radio last month and announced that 'Samsung Bio will produce the Moderna prototype at the end of August or early September'. ” was said.
Samsung Biologics (Modena) and SK Bioscience (AstraZeneca, Novavax) are both companies that produce global COVID-19 vaccines on consignment. In addition, the Russian Sputnik V vaccine has also been contracted by a Korean company.
The government is planning to develop into a forward base for global vaccine production through such a vaccine production base. Lee Kang-ho, head of the Ministry of Health and Welfare's Global Vaccine Hub Promotion Group, said, "The goal is to enhance the overall capacity of domestic vaccines to fulfill its role as a global hub."
Director Lee also said, “Currently, it is ranked ninth in the world (in terms of vaccine production), but if Korea actively pursues its current vaccine hub policy, it is judged that it will be able to achieve 5th place.” The government plans to achieve 5th place in the global vaccine market by 2025 through this vaccine hub policy.