President Moon Jae-in announced that South Korea will “invest ₩2.2 trillion to increase its vaccine competency over the next 5 years.”

On September 13th, President Moon expressed such plans in a recorded welcome address for the 'Global Bio Conference' that is being held at the Grand Intercontinental Parnas Hotel in Seoul. Moon said, "Korea aims to become one of the global vaccine production hubs that could lead the response to the rise of infectious diseases in the future.

Moon added, “Biopharmaceuticals have provided new hope to mankind’s fight against COVID-19. The typical development period for vaccines, which used take more than 10 years, have now been reduced by 1/10, an