Bo-eun leads the digital content team. She has covered foreign affairs, North Korea, tech, economy and gender issues at The Korea Times. She did a short stint at the South China Morning Post in Hong Kong, where she obtained a new perspective on news production and life. Small sources of joy for her are lounging in the sun, having a good latte and swimming.
Korea emerging as Asia's vaccine hub
By Kim Bo-eun
By Kim Bo-eun
Korea is quickly becoming a hub for producing vaccines and treatments for COVID-19 in Asia, based on its advanced manufacturing capabilities and capacity.
Government officials told The Korea Times that Moderna is reviewing setting up a production plant on Incheon's Yeongjong Island, where Incheon International Airport is located.
Incheon is a strategic location for bio firms, based on a variety of factors. It is home to a cluster of bio companies in Songdo International Business District. The cluster spanning 920,000 square meters houses 60 Korean and foreign bio firms and research centers, including Samsung Biologics, Celltrion and Merck.
Samsung Biologics and Celltrion are pouring in 2.5 trillion won for setting up production facilities and R&D centers within the area. The two bio firms are in the process of constructing their third and fourth plants there. They are seeking to transform the area into the world's largest production base for biomedical products.
The cluster is adjacent to Incheon Global Campus, which houses local campuses of renowned institutions such as the State University of New York, George Mason University and Ghent University. The bio companies are seeking to set up joint research agreements with the universities to boost R&D capabilities.
The city of Incheon is also attractive due to its air logistics infrastructure and government tax incentives.
Competitiveness of local bio CMOs
Local bio firms have proven their capabilities, securing contracts to manufacture COVID-19 vaccines and treatments for global companies.
SK Bioscience is producing vaccines for the U.K.'s AstraZeneca and U.S. firm Novavax. A consortium led by Hankook Korus Pharm is manufacturing Russia's Sputnik V vaccine. The consortium is comprised of eight leading pharmaceutical companies, such as Binex and ISU Abxis. GC Pharma, meanwhile, is producing a COVID-19 vaccine for the global foundation Coalition for Epidemic Preparedness Innovations (CEPI).
Samsung Biologics and Celltrion are manufacturing COVID-19 antibody treatments. The Samsung affiliate is producing treatments for U.K. firm GlaxoSmithKline and U.S. company Eli Lilly. Celltrion is manufacturing its own self-developed treatment, Rekirona.
Samsung Biologics, the world's largest contract manufacturing organization (CMO), is known to be discussing contract manufacturing for global pharmaceutical companies' COVID-19 vaccines. The firm is set to see its production capacity grow to 620,000 liters once construction of its fourth plant is completed. This will enable the Samsung unit to take up around 30 percent of the global CMO market share, widening the gap with the No.2 player, Switzerland's Lonza.
Korea ranks second globally when it comes to bio production capability with 385,000 liters in total CMO capacity. Leading the CMO market is the U.S. with facilities able to produce 486,000 liters in capacity. Korea's capabilities center on its traditional strength in manufacturing.
President Moon Jae-in pledged substantial support for the vision to develop Korea into a global vaccine manufacturing hub, during an address on Monday marking his fourth year in office.
A summit between Moon and U.S. President Joe Biden planned for May 21 is set to address bilateral cooperation on vaccines. Expectations are growing over the expansion of the partnership with the U.S., which holds crucial biotechnologies and materials for vaccines and could help Korea become a global hub for vaccine production. The top-level meeting will take place at a time when local CMOs are in talks with global firms to produce messenger (mRNA) vaccines. Korean CMOs are seeking massive opportunities as U.S. pharmaceutical giants seek to expand mRNA vaccine supply in the Asian region.
“The Songdo cluster is home to an ecosystem of entities in the bio industry, including conglomerates, startups, foreign businesses and R&D centers. The local governments are offering substantial support to companies which makes it an attractive and competitive site,” a bio industry official said.
“Proximity to the airport is also a huge advantage while Seoul is nearby, which facilitates securing a skilled workforce. With all of these factors, Korea will be able to take on the role of a global bio hub.”