Government Establishes National Compensation System for COVID-19 Damages... Funding from Contingency Reserve

Free Vaccination for All Citizens Starting February... Government Compensation for Side Effects

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] The government is establishing a national compensation system for adverse effects of the novel coronavirus disease (COVID-19) vaccine. Funding will be secured through contingency funds.

According to government departments on the 24th, the government is discussing this matter centered around the Korea Disease Control and Prevention Agency (KDCA). A government official stated, "The KDCA is leading the efforts to establish a national compensation system for vaccine side effects among related ministries," adding, "It appears that the funding will be sourced from contingency funds."

President Moon Jae-in previously declared that the government would fully cover the costs related to vaccine side effects, and Kim Yong-beom, the 1st Vice Minister of Strategy and Finance, also said, "A joint system between the KDCA and the Ministry of Food and Drug Safety will be established to address the possibility of adverse reactions."

The government plans to sequentially introduce vaccines starting in February and conduct free vaccinations nationwide. The amount secured so far is sufficient for 65 million people. The initially planned 44 million doses have increased somewhat, and the additional budget will be covered by contingency funds.

Additionally, the government is considering utilizing health insurance finances for part of the free vaccination budget.

Regarding this, Choi Sang-dae, the Budget General Review Officer at the Ministry of Strategy and Finance, stated, "The financial requirements will be determined according to the detailed plan to be announced by the KDCA within this month for free vaccinations," adding, "Basically, the principle is for the state to provide support without disruption, but since there is a legal basis under the National Health Insurance Act for health insurance finances to partially cover preventive vaccinations, we will concurrently review the option of partial health insurance financial support."

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