JAKARTA - A US biotechnology company and one of the manufacturers of the COVID-19 Moderna vaccine, is said to have chosen South Korea as its base for producing THE COVID-19 vaccine for Asian countries, according to various governments sources, Wednesday, May 12.
Visiting Koreatimes on Wednesday, May 12, this moving is expected to assuage concerns about securing an adequate supply of the COVID-19 vaccine, for all South Koreans who meet vaccination requirements.
"Moderna recently stated its intention to buy land on Yeongjong Island, an hour from Incheon International Airport, and its CEO Stephane Bancel is expected to visit Cheong Wa Dae as soon as this weekend or no later than May 18", the government official said while requesting anonymity.
Other officials supported the statement saying Moderna's CEO visit could continue because the interests of both sides were in line.
"Moderna considers its vaccine production facilities in the United States insufficient to supply the COVID-19 vaccine throughout Asia. And so it seeks to improve its manufacturing capabilities. The company's intention is in line with President Moon Jae-in's plan to make Korea the center of COVID-19 tourism production in Asia", the official said.
As a manufacturer of the COVID-19 vaccine, Moderna uses messenger RNA (mRNA) technology. The vaccine creates a surge protein similar to the one on the surface of the coronavirus that causes the disease, to trigger an immune response in vaccinated people and the production of antibodies.
Currently, two vaccines use mRNA technology, namely Moderna and Pfizer, which are known to have a higher level of efficacy than other vaccines produced using standard methods.
Because South Korea relies solely on vaccine imports, concerns have been raised about the safeguarding of sufficient mRNA vaccines. In December 2020, the government signed a contract with Moderna to obtain enough vaccines to inoculate 20 million people by next June.
A second government official also claimed Moderna would invest several billion dollars to build its own Ginseng Country plant, given the many obstacles to transferring mRNA technology to domestic companies.
"Korean biotechnology lags behind developed countries and no domestic company has the experience to develop vaccines using mRNA technology. This means there are no local companies with facilities and capabilities to meet Moderna's needs", the official added.
Please note, Moderna's COVID-19 mRNA vaccine is undergoing a licensing review procedure here. On May 10, a panel under the Ministry of Food and Drug Safety said the company's vaccine showed an efficacy rate of more than 94 percent and was eligible for use.
The panel review is the first step in three evaluations before the ministry gives final approval. The results of clinical trial data on 28,207 participants showed that the vaccine has an efficacy of 94.1 percent in preventing COVID-19.
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