S.Korea's SK bioscience to invest $132 million to boost vaccine production | Inquirer Business

S.Korea’s SK bioscience to invest $132 million to boost vaccine production

/ 02:25 PM June 21, 2021

sk bioscience

 The word “COVID-19” is reflected in a drop on a syringe needle in this illustration taken November 9, 2020. REUTERS FILE PHOTO

SEOUL — South Korea’s SK bioscience said on Monday it plans to expand vaccine production by investing about 150 billion won ($132 million) by 2024 to add production capacity, as well as equipping its plant to make newer mRNA and viral vector vaccines.

The vaccine maker said in a statement it has signed an agreement with the government of North Gyeongsang Province and the city of Andong, about 190 km (118 miles) southeast of Seoul, to expand its plant there and buy new land.

Article continues after this advertisement

SK bioscience said it plans to add some 99,130 square meters of additional production space in the area.

FEATURED STORIES

Its Andong plant produces COVID-19 vaccines developed by AstraZeneca Plc and Novavax Inc.

The company said last week the facility had received European Union Good Manufacturing Practices (GMP) certification, enabling SK to export vaccines to Europe.

Article continues after this advertisement

($1 = 1,138.5300 won)

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

For more news about the novel coronavirus click here.
What you need to know about Coronavirus.
For more information on COVID-19, call the DOH Hotline: (02) 86517800 local 1149/1150.

The Inquirer Foundation supports our healthcare frontliners and is still accepting cash donations to be deposited at Banco de Oro (BDO) current account #007960018860 or donate through PayMaya using this link.

TAGS: COVID-19, Investments, South Korea

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.