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S. Korea's blueprint to become world's leading vaccine hub Updated: 2021-08-05 17:15:09 KST

Following that meeting, South Korea's health minister laid out a blueprint for the strategies needed to reach the goal of becoming one of the world's biggest vaccine hubs.
For more, we have our Choi Min-jung on the line.
Min-jung, give us the details.

Conn-young, just a few hours ago, the nation's health minister Kwon Deok-cheol held a briefing, addressing the specific plans to turn South Korea into a global vaccine powerhouse.
First of all, the government says it will boost the production of domestically-made vaccines.
Currently, seven South Korean companies are in the process of developing a COVID-19 vaccine.
SK Bioscience is set to be the first to undergo phase three clinical trials in August, with aims to commercialize the vaccine in the first half of next year.
To ramp up the phase three clinical trial process, the government will inject 145 million U.S. dollars this year.
South Korea will also put emphasis on recruiting test participants.
Those who participate in clinical trials will be given various incentives, including discounts on cultural activities.
Authorities say they will also actively promote the development of domestic mRNA vaccines.
Samsung Biologics is planning a trial production of the Moderna vaccine starting at the end of August.
Currently, the company is under a consignment production deal with the U.S. drug maker.

Min-jung, we hear that the government also plans on strengthening global vaccine cooperation, not just to contain the virus in Korea, but also to better enhance vaccinations around the world.

That's right. South Korea is looking to strengthen cooperation with international bodies, including the World Health Organization, to promote domestic vaccines across the globe.
The government added they will establish a global vaccine research complex, to attract overseas research companies.
They will also promote exports of local vaccines.
Although South Korea is currently the ninth largest vaccine producer in the world, authorities believe that it's possible to reach the goal of becoming the fifth largest, if these strategies are put into place.
That's all I have at this hour.
Back to you, Conn-young.
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