Prime Minister Jeong: "Full Support for COVID-19 Vaccine and Treatment Development"

"Not only financial support, but also regulatory reform to remove development obstacles and establish a fast track"

Prime Minister Jeong Sye-kyun

[Asia Economy Reporter Kwangho Lee] Prime Minister Chung Sye-kyun said on the 14th that in order to accelerate the development of vaccines and treatments for the novel coronavirus infection (COVID-19), "we will drastically reform regulations that hinder development to establish a fast track, and spare no effort in providing full support such as funding."

Prime Minister Chung presided over the Central Disaster and Safety Countermeasure Headquarters (CDSCH) meeting on COVID-19 held at the Government Seoul Office and stated, "Countries around the world are working on developing COVID-19 vaccines and treatments. At this stage, actively identifying and isolating infected individuals and blocking transmission through social distancing are most important, but the fundamental solution will ultimately be vaccines and treatments."

He added, "This is not only urgently needed from a quarantine perspective but also an opportunity for the bio-industry, a future growth engine, to make a great leap forward. We have already demonstrated a model recognized worldwide in quarantine and diagnostic kit development. Companies, government, research institutions, medical community, and academia must unite as one team once again to create a miracle."

Prime Minister Chung continued, "Research institutions will share the basic technologies accumulated through research and development (R&D), provide infected animals for research, and offer technical support. The medical community and academia will assist through clinical data and sample provision, evaluation, and consultation."

He then said, "If these supports are added to the challenging spirit, creativity, and development capabilities of our bio companies, I believe nothing is impossible. I urge related agencies to promptly promote a pan-government support group for the development of COVID-19 vaccines and treatments."

Finally, Prime Minister Chung said, "The number of overseas arrivals under self-quarantine, which has been a burden on quarantine, is expected not to increase beyond the current level. However, it is necessary to closely monitor the spread in Asian countries such as Japan, where many overseas Koreans reside. In case of emergency, the demand for return of our nationals may concentrate at once, so related agencies should prepare in advance."

This content was produced with the assistance of AI translation services.