Jungjingong Takes Supportive Measures with Related Organizations to Establish a Global Vaccine Hub

Briefing Session on the Integration Project of 10 Major Institutions to Achieve Global Vaccine Hub on the 13th

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do) and other ten major vaccine industry support organizations gathered to achieve the goal of becoming a global vaccine hub held an online briefing session on the 13th to guide their support projects for domestic vaccine and raw material companies.

The briefing was held as a side event of the cooperation meeting of the 10 related organizations jointly hosted by the Ministry of Health and Welfare and the Ministry of Trade, Industry and Energy. The ten major vaccine industry support organizations signed a memorandum of understanding last November to link their projects and strengthen cooperation to carry out the 'K-Global Vaccine Hub Vision and Strategy' promoted at the government-wide level.

Each organization announced their roles, goals, and key initiatives for this year in supporting the entire vaccine industry cycle through an integrated project briefing live-streamed online from KOTRA's headquarters K-Studio in Yeomgok-dong. The Small and Medium Business Corporation, KOTRA, Korea International Trade Association, and Korea Trade Insurance Corporation introduced export marketing and trade insurance support plans for vaccine companies, while the Korea Health Industry Development Institute introduced support projects to strengthen vaccine development and industrial capabilities. The Korea Technology Finance Corporation, Korea Credit Guarantee Fund, KDB Industrial Bank, Industrial Bank of Korea, and Korea Export-Import Bank explained financial support programs tailored to each institution's characteristics to activate private investment.

The Small and Medium Business Corporation plans to lead the overseas expansion of excellent domestic vaccine and raw material companies through various policy supports such as policy funds and export marketing projects. Specifically, support will be expanded up to 10 billion KRW per company for vaccine and raw material companies, and preferential treatment will be given when applying for export marketing projects such as export vouchers. In addition, to promote long-term employment of employees, growth in all areas including sales, jobs, and exports will be supported through linkage with the Tomorrow Filling Deduction program, actively fostering global companies.

Chairman Kim Hak-do said, "This case is meaningful in that the ten related organizations are solidifying a cooperative system to achieve the early realization of Korea as a global vaccine hub," adding, "The Small and Medium Business Corporation will organically cooperate with the ten related organizations and actively utilize field organizations and overseas bases to lead support so that excellent small and medium venture companies can achieve globalization."

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