Ha-rin Lee, Gounee Yang Global Economic News SOUTH KOREA and the United States will expand their vaccine partnership to materials, parts, and equipment companies and basic research. Through this, the strategy to promote global vaccine hub announced by the South Korean Government last month will be accelerated. With the first-shot vaccination rate of COVID-19 in South Korea exceeding 70 percent, it is also expected to contribute to supply and demand of vaccine as additional purchases and early supplies of vaccines continue. The South Korea-U.S. vaccine partnership signing ceremony was held in New York, attended by South Korean President Moon Jae-in. The most outstanding achievement of this ceremony is that Cytiva, the U.S. vaccine raw material manufacturer, has submitted a investment report for its plan to establish production facilities in South Korea. Cytiva is planning to invest US$52.5 million from next year to 2024 to produce disposable cell culture fluid, which is the vaccine raw material in short supply worldwide, in South Korea. This is the first case that vaccine material manufacture has submitted the investment report for production facilities since COVID-19 pandemic. | 