"Efforts and Costs Invested in Development Will Be Fully Compensated"... President Moon Says, "Do Not Spare Administrative Support or Funds"
[Asia Economy Reporter Ryu Jeong-min] On the 9th, President Moon Jae-in stated at the 'Joint Meeting of Industry, Academia, Research Institutes, and Hospitals for the Development of COVID-19 Therapeutics and Vaccines' that "We must see the development of therapeutics and vaccines through to the end." President Moon instructed to establish a comprehensive government-wide support system based on a permanent consultation framework involving the government.
In his closing remarks at the meeting, President Moon cited the support system during last year's Japanese 'export restrictions on materials, parts, and equipment' as an example. Blue House spokesperson Kang Min-seok explained, "During the closed-door discussions, some participants expressed concerns about the economic feasibility and commercial viability, citing cases where development was halted at the final stages of therapeutics or vaccine development due to the end of the infectious disease."
President Moon said, "There have been instances where, even after completing development, the efforts and costs invested were not properly compensated. Currently, COVID-19 is rampant worldwide, and it is uncertain when it will end," adding, "The government will stockpile sufficient quantities of developed therapeutics and vaccines for future use."
President Moon emphasized, "Even if there is no economic or commercial viability in the market, the government will purchase and stockpile sufficient quantities to ensure 100% compensation for the efforts and costs invested in development." He added, "If we succeed in developing therapeutics and vaccines, it will not be just a one-time technological achievement but will bring many synergistic effects, significantly elevating the overall level of our country's bio-pharmaceutical industry."
President Moon said, "I am very reassured to see that research institutes and bio-pharmaceutical companies engaged in therapeutics and vaccine development are making every effort with the prospect of being the world's first to commercialize," and added, "The government will provide maximum support. You can be certain of that."
President Moon urged Minister Choi Ki-young of the Ministry of Science and ICT, Minister Park Neung-hoo of the Ministry of Health and Welfare, and Commissioner Lee Ui-kyung of the Ministry of Food and Drug Safety, who were present, to "provide maximum administrative support from the government." He also requested the easing of government administrative regulations.
President Moon stated, "The COVID-19 crisis is truly a special case that may or may not happen once," and said, "We need to boldly discard or change existing principles for greater values."
President Moon explained, "During Japan's export controls, we established a government-wide countermeasure committee and a working support group under it, which met regularly to promptly address difficulties encountered in the field by creating lists and immediately correcting issues. This led to a rapid success in achieving self-reliance for materials and parts that were dependent on Japan." He added, "In the case of diagnostic reagents, special collaboration enabled us to develop reagents in an unprecedentedly short time."
President Moon said, "For therapeutics and vaccines, not only industry, academia, research institutes, and hospitals but also the government should participate to create a permanent consultation framework through which various difficulties and regulatory issues can be swiftly resolved."
He emphasized, "If clinical trials are completed quickly through this consultation framework and efforts are made to ensure international acceptance, we will be equipped not only to protect the lives and safety of our citizens but also to support other countries."
President Moon urged the ministers present, "Do not spare administrative support or funding." He said, "If the Ministry of Science and ICT or the Ministry of Health and Welfare alone are insufficient, involve the Ministry of Economy and Finance and see this through to the end," adding, "Make bold and generous plans. The goal of the government-wide support system will be achieved when therapeutics and vaccine development is realized."
Spokesperson Kang explained, "President Moon also ordered that after achieving the goal, the system should be institutionalized to establish a response posture for new infectious diseases." President Moon emphasized, "Just as we led the world in diagnostic reagents and diagnostic kits, I strongly hope that we will also lead the world in therapeutics and vaccine development."
President Moon said, "Compared to other advanced countries, our country does not have relatively abundant R&D funds or consistently strong research capabilities," but he questioned, "Do we not have the ability to unite our capabilities extraordinarily in extraordinary times?" He urged, "Please maximize that ability and gradually make it our usual strength."
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