South Korea's SK bioscience to invest US$132 million to boost vaccine production

SEOUL: South Korea's SK bioscience said on Monday (Jun 21) it plans to expand vaccine production by investing about 150 billion won (US$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 190km southeast of Seoul, to expand its plant there and buy new land.

READ: South Korea to loosen COVID-19 social distancing rules on Jul 1

SK bioscience said it plans to add around 99,130 sq m of additional production space in the area.

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.

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