Lee Jae-yong Moves Behind the Scenes to Secure Vaccines... Responds with Top-Level Task Force

[Asia Economy Reporter Jeong Hyunjin] Samsung Biologics (Samba), which has been contract manufacturing Moderna's COVID-19 vaccine, is set to supply the vaccine domestically for the first time this week, and it has been reported that Samsung Electronics Vice Chairman Lee Jae-yong has personally taken charge of vaccine production and procurement.

According to the business community on the 27th, Vice Chairman Lee has refrained from external official activities since his parole in August, but it is known that he has been actively involved internally to secure COVID-19 vaccines. He formed a task force (TF) composed of top executives from Samsung Electronics, Samsung Biologics, and Samsung Bioepis, created and checked a checklist to expedite the vaccine production and supply schedule, and held daily conference calls.

At that time, Samba had laid the groundwork to produce in cooperation with Moderna but faced several challenges such as regulatory approval issues. As Samba was producing mRNA (messenger ribonucleic acid) vaccines for the first time, stable mass production itself was a challenge. In response, Vice Chairman Lee appears to have focused on accelerating the production schedule as much as possible by concentrating Samsung's technology and resources, considering the domestic vaccine situation. Based on the TF, each Samsung affiliate immediately deployed experts to promptly respond to various situations arising during the production process and to address issues related to various regulatory approvals.

Vice Chairman Lee also engaged in discussions with Moderna's top executives. Knowing that a longtime acquaintance had business relations with Moderna, he was introduced to Moderna's top executives through him, and in August, he held a video conference with Moderna's top executives to build a trust relationship in the short term through vaccine production and to discuss expanding cooperation across the bio-industry in the mid to long term. It is known that Vice Chairman Lee and Moderna's top executives have been exchanging opinions frequently until recently.

Vice Chairman Lee's behind-the-scenes efforts to produce and secure COVID-19 vaccines seem to have been influenced by the social expectations expressed when President Moon Jae-in mentioned Lee's role in the domestic semiconductor industry and vaccine-related matters at the time of his parole. On the 25th, marking the first anniversary of Chairman Lee Kun-hee's passing, Vice Chairman Lee emphasized the importance of Samsung's role, saying, "Now, with a humble heart, let us all move forward together to create a new Samsung and a better future for our neighbors and society."