S.Korea's Moon pledges $1.92 bln by 2025 to boost COVID-19 vaccine production

SEOUL: South Korean President Moon Jae-in said on Thursday he plans to invest 2.2 trillion won ($1.92 billion) to turn the country into one of the world's five largest COVID-19 vaccine manufacturing bases by 2025, his office said.

The remarks were made at a meeting of a public-private committee newly launched to explore ways to boost vaccine production amid global supply shortages and shipment delays. Moon said he will designate COVID-19 vaccines as one of the three national strategic technologies, along with semiconductors and batteries, to ramp up investment, tax breaks and other incentives.