SK Bioscience President Ahn Jae-yong Proposes Establishing a Hub-Type Vaccine Center in Saudi Arabia

Next-Generation Partnership Model Announced in Saudi Arabia
"We Will Embed SK Vaccine's Success DNA Worldwide"

Ahn Jae-yong, President of SK Bioscience, is giving a session presentation at the "2023 Riyadh Global Medical Biotechnology Summit" held on the 25th (local time) in Riyadh, the capital of Saudi Arabia. / Photo by SK Bioscience

[Asia Economy Reporter Myunghwan Lee] SK Bioscience CEO Ahn Jae-yong proposed a global partnership to establish research and development (R&D) and production infrastructure in overseas countries with insufficient vaccine infrastructure.

According to the company on the 27th, CEO Ahn spoke at the ‘2023 Riyadh Global Medical Biotechnology Summit’ held in Riyadh, the capital of Saudi Arabia, on the 25th (local time), during a session presentation titled ‘Preparing for the Next Pandemic through Global Partnerships.’

CEO Ahn shared the successful experience of Korea’s first COVID-19 vaccine and emphasized the importance of global partnerships from the perspective of health security, proposing cooperation based on SK Bioscience’s vaccine R&D and production capabilities.

He explained, "Based on the accumulated experience and know-how in R&D and production, we can transfer vaccine manufacturing facilities, technology, and products to countries in need." He added, "If the target countries support funding, human resources, and the entire process of drug development and manufacturing based on global initiatives, bilateral partnerships can be established." He continued, "Through such partnerships, when vaccine manufacturing facilities and technology are transferred to countries lacking infrastructure, it becomes possible to reliably supply necessary vaccines within the region during normal times and quickly switch to pandemic vaccine production systems in the event of a viral outbreak."

CEO Ahn also stated, "Having experienced the human casualties, economic losses, and national system crises that a pandemic can cause, it is time to consider vaccine self-sufficiency from a national security perspective." He added, "The cooperation model we propose requires, above all, strong will and commitment from each government, and reasonable compensation for participating institutions to be feasible."

First held in September 2021 and now in its second year, the Riyadh Summit is a national-level bio event where key global bio industry stakeholders gather to share future R&D prospects and investment strategies in the bio industry. SK Bioscience is the only Korean company participating as a speaker at this event, which was attended by Pfizer, Moderna, AstraZeneca, and others.

SK Bioscience is actively promoting its ‘Glocalization (Global + Localization)’ business. Through this initiative, the company aims to contribute to resolving vaccine supply imbalances in countries lacking technology and infrastructure, and furthermore, to create social and economic value by pioneering new markets for its self-developed vaccines.