The U.S. and South Korean governments are discussing a COVID-19 vaccine swap. Although details are not known yet, the options may include South Korean vaccine manufacturing facilities provided in return for U.S. vaccines.
The option requires a long-term investment, a couple of years at the least. In the case of mRNA vaccines manufactured by Pfizer and Moderna, no South Korean company is currently capable of immediately producing those in South Korea even in the event of a contract manufacturing agreement or technology transfer. Still, a company with biopharmaceutical manufacturing facilities, such as Hanmi Pharmaceutical, GC Pharma, ST Pharm and Binex, may modify its production lines after technology transfer, although it is not that attractive to technology providers.
Some point out that vaccine exchange is a more viable option. South Korea already concluded contracts for 152 million doses, which exceeds the doses for 100 percent of its population, and yet mass supply is yet to occur. “The United States may provide its remaining vaccines before South Korea repays with those scheduled to be brought in, and then South Korea does not have to provide manufacturing facilities or bear additional purchase costs,” one of them said, adding, “In the case of the AstraZeneca and Novavax vaccines in particular, South Korea is currently performing contract manufacturing and, as such, the United States can be sure about repayment.”
In fact, such contracts have already been concluded between the United States and Mexico and Canada. The U.S. government reached a conclusion last month that it has COVID-19 vaccines enough to cover the entire population and then signed AstraZeneca vaccine exchange contracts with the neighboring countries.