During President Moon Jae-in’s visit to the United States (May 20-23), Korea and the U.S. agreed to establish a comprehensive “KORUS Global Vaccine Partnership” in a summit meeting on May 22, local time.
Under the partnership, the two countries are to join efforts to accelerate global COVID-19 vaccine production and supply by combining Korea’s biopharmaceutical production capability and the U.S. vaccine development technology and raw material supply capability.
They will also strengthen science and technology cooperation to improve global capacity to respond to infectious disease threats.
To this end, the Ministry of Trade, Industry and Energy and the Ministry of Health and Welfare signed a memorandum of understanding (MOU) with Moderna, under which the U.S. pharmaceutical company agreed to make efforts for investments in Korea’s mRNA vaccine production facility and hiring of local manpower. The ministries will provide support for investment and business activities.
Trade, Industry and Energy Minister Moon Sung-wook said that he expects Korea to grow into a global vaccine hub through cooperation with Moderna and Novavax, and promised active support for the industry to foster raw and subsidiary material firms, attract investment, and cultivate skilled manpower in bioprocessing.