[Market Focus] SK Bioscience Jumps Over 3% on News of Bill Gates' Visit to Korea

SK Bioscience saw strong gains in early trading on the 18th. This was attributed to reports that Bill Gates, co-chair of the Bill & Melinda Gates Foundation and co-founder of Microsoft (MS), would visit South Korea and discuss vaccine collaboration with SK Bioscience and others.

As of 9:25 a.m. on this day, SK Bioscience was trading at 48,300 won, up 1,650 won (3.54%) from the previous trading day. This increase was driven by heightened investor interest following news that Gates is expected to visit South Korea around the 21st.

Key officials from the foundation are also expected to accompany Gates during his visit. Trevor Mundel, President of Global Health at the foundation, is reportedly scheduled to meet with representatives from the Ministry of Health and Welfare, the National Institute of Health, SK Bioscience, LG Chem, and others to discuss vaccine collaboration.

Gates has contributed to the establishment of the Global Alliance for Vaccines and Immunization (GAVI) and has continued nonprofit efforts to supply vaccines at affordable prices to developing countries that face difficulties in purchasing them. He has also announced plans to return a total of $200 billion (approximately 277 trillion won) to society by 2045.