"Give the Prime Minister Full Authority Over COVID-19 Vaccines"

Elder Statesmen and Experts from Various Fields Propose Vaccine Recommendations

[Image source=Yonhap News]

"The COVID-19 vaccine has become a kind of global public good. Ultimately, since it cannot be left solely to the market and each country gets involved, both companies and nations must step up during negotiations. A president or a prime minister or minister granted full authority by the president is needed as a comprehensive 'orchestrator.'" (Han Deok-su, former Prime Minister)

On the 27th, senior figures and experts from various fields suggested to Asia Economy in an interview that due to the ongoing global shortage of COVID-19 vaccines, the prime minister or equivalent should take responsibility for deciding and managing vaccine procurement and long-term supply. Former Prime Minister Han said, "Diplomatic power must be fully mobilized for vaccine issues," adding, "One method is for the prime minister to have full authority to swiftly decide on related budgets and various complicated conditions." ▶Related article page 2

Kim Ki-heung, Professor Emeritus of Economics at Kyonggi University, pointed out, "Currently, it seems the United States is also using vaccines as leverage in its diplomacy," and added, "Since there is precedent where the finance minister resolved issues through a currency swap with the U.S. during the past foreign exchange crisis, at least a minister should go and secure channels to solve the problem."

Thomas Byrne, Chairman of the Korea Society, emphasized that a vaccine swap could be a good opportunity to reaffirm the alliance between South Korea and the U.S. Byrne stated, "As soon as the COVID-19 crisis began, the two countries decided on a $60 billion currency swap to prevent the problem from spreading to the financial sector," and argued, "Through a vaccine swap between South Korea and the U.S., similar effects to the currency swap can be achieved in the health sector."

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