S. Korea’s top diplomat, CEPI chief discuss ways to bolster investment in local bio firms

The head of the global coalition meant to combat epidemic diseases has said Seoul's contribution plays a critical role in maintaining global health initiatives, South Korea's foreign ministry said Tuesday. South Korea contributed US$33 million to the Coalition for Epidemic Preparedness Innovations (CEPI) between 2020 and 2023. This year, South Korea also contributed $18 million to CEPI as part of efforts to strengthen global health initiatives. Seoul's move came at a time when many countries are struggling to maintain their contributions to the global coalition due to challenges such as the prolonged war in Ukraine, CEPI CEO Richard Hatchett said during a meeting with Foreign Minister Cho Tae-yul in Seoul on Monday. Cho emphasized the importance of CEPI's continued investment in South Korean companies and called for diversified collaboration. Hatchett said CEPI can continue cooperation with South Korea in various fields, noting that CEPI invested over $410 million in SK Biosciences and other South Korean companies to support their vaccine development. CEPI, co-founded by the Bill and Melinda Gates Foundation, is a global partnership focused on vaccine research and development against infectious diseases, such as COVID-19. The organization was launched in 2017, and South Korea joined in 2020. CEPI's council meeting is scheduled to be held in South Korea from Thursday to Friday. Source: Yonhap News Agency