[2nd Supplementary Budget] 4.4 Trillion Won for Vaccines and Quarantine... Securing 192 Million Vaccine Doses Within the Year

Up to 440 million KRW Compensation for Death or Disability After Vaccination
Up to 10 million KRW Support for Severe Adverse Reactions

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kim Hyunjung] The government will allocate 4.4 trillion KRW to COVID-19 vaccines and quarantine projects through the second supplementary budget bill. It plans to secure 192 million doses of vaccines within this year and provide up to 10 million KRW in medical expense support if adverse reactions occur after vaccination.

The government held a Cabinet meeting on the morning of the 1st and approved the "2021 Second Supplementary Budget Bill" containing these measures.

The total budget directly related to COVID-19 vaccines and quarantine is 4.4 trillion KRW, allocated as follows: 2 trillion KRW for vaccine purchase, vaccination, and damage compensation; 2.2 trillion KRW for expanding COVID-19 diagnostic testing, supporting isolated individuals’ living expenses, and compensating medical institutions for losses; and 200 billion KRW for supporting workforce training in vaccine manufacturing and development, clinical development, and advance vaccine procurement.

Through this, the government plans to secure 192 million doses of vaccines within this year and purchase vaccines to respond to variant viruses. To accelerate vaccination speed, the number of public vaccination centers will be increased from the current 267 to 282, and vaccination at private commissioned medical institutions will be expanded. Compensation for adverse reactions caused by COVID-19 vaccination will be increased, with up to 440 million KRW paid for death or disability caused by vaccination, and up to 10 million KRW provided for treatment costs if severe adverse reactions occur without sufficient causal evidence. The budget for this compensation is set at 18.1 billion KRW.

A total of 1.3 trillion KRW has been secured for expanding testing and supporting the living expenses of isolated individuals, and 900 billion KRW for securing treatment beds at frontline medical institutions and alleviating their financial burdens.

Additionally, 20.8 billion KRW will be invested in essential facilities and equipment for vaccine and raw material production and workforce training in vaccine manufacturing and development processes. A budget of 98 billion KRW has also been prepared to support clinical costs for companies with a high possibility of entering phase 3 clinical trials for domestic vaccine development. Furthermore, based on phase 2 interim results and comprehensive reviews of safety, efficacy, likelihood of success, ease of vaccination, development schedule, and price, an advance purchase worth 72 billion KRW will be promoted to prepare for domestic vaccine development.

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