The government will begin to establish an Asian vaccine fund

Prevent difficulties in supplying vaccines for new infectious diseases such as COVID-19

The government will review the need for joint vaccine purchase funds in Asia and start working on creating grounds for establishment.

 

The move is aimed at preventing repeated cases of global difficulties in supplying vaccines with COVID-19 Pandemic and bridging the gap in accessibility to public vaccines and biopharmaceuticals by country.

 

On the 14th, the Ministry of Health and Welfare's Global Vaccine Hub Promotion Team announced that it will start researching a joint vaccine purchase fund to ensure access to vaccines in mid- to low-income countries in Asia.

 

According to the MOHW, GAVI had difficulty in supplying vaccines in Asia as it implemented a vaccine supply policy that utilizes a differentiated pricing system according to income by country.

 

Accordingly, the background of this study is that it is necessary to prepare to become a global vaccine hub by promoting vaccine cooperation in Asia.

 

The Ministry of Health and Welfare predicted that through research, large-scale vaccine demand will be discovered, Korean vaccine production companies will pioneer markets and lay the foundation for vaccine exports by the authority to adjust the fund's contribution.

 

It also analyzed that it will secure equity by bridging the gap in accessibility between countries to global health crisis management such as Pandemic and essential public vaccines and biopharmaceuticals.

 

The Ministry of Health and Welfare will review the need for a joint Asian vaccine purchase fund and conduct literature surveys and interviews to lay the groundwork for its establishment.

 

Considering the national mandatory vaccination by country and the status of infectious diseases, the status and demand of inconsistency in supply and demand of vaccines will be identified.

 

Specifically, the current system to strengthen vaccine accessibility in middle and low-income countries is analyzed, and the necessity of introducing a vaccine accessibility enhancement program for countries excluding GAVI is reviewed.

 

It will also come up with a plan to establish a vaccine joint purchase fund.

 

Starting with the analysis of the impact of GAVI vaccine supply mechanisms and changes in target countries on vaccination by country, the need for Asian vaccine accessibility programs such as joint Asian vaccine purchase funds will also be reviewed.

 

Along with basic designs such as vaccine joint purchase fund operators, joint purchase items, and operating systems, it will also investigate whether it can function as a basis for Korean vaccine exports by utilizing coordination rights based on fund establishment such as specific company priorities.

 

The MOHW said, "It takes time to establish a vaccine joint purchase fund and it will estimate the budget and set the scope of participating countries, regions, and private foundations.

 

The MOHW will visit the SAEAN to exchange information and ask for cooperation." The MOHW said, "We will be able to establish policies based on empirical data through accurate diagnosis and analysis related to the establishment of the Asian Vaccine Joint Fund." The Ministry of Health and Welfare added, "We will present the direction of fund establishment according to the demand and supply of vaccines for major infectious diseases by country and design effective operation plans."