By UN Journal Kayla Lee

Foreign Minister Cho Tae-yul met with Richard Hatchett, CEO of the Coalition for Epidemic Preparedness Innovations (CEPI), who is visiting South Korea, to discuss ways to deepen bilateral cooperation, including CEPI's investment in Korean biotech companies on Aug. 26.
 

Cho explained that the South Korean government is expanding its contributions to the international community with a significant increase in its ODA budget this year, and the $18 million in support for CEPI this year is part of its commitment to contribute to strengthening the global health system.

Hatchett noted that South Korea's contribution is crucial as many countries are struggling to maintain their contributions to global health organizations due to the war in Ukraine. 

He also noted that CEPI has a mutually beneficial relationship with South Korea, having invested more than $410 million in Korean companies and organizations, including SK Bioscience, to support vaccine development, and that there are many opportunities for collaboration in the future.

Minister Cho emphasized the importance of CEPI's continued investment in Korean companies and called for efforts to diversify cooperation, including with the WHO Global Bio Human Resources Training Hub.

The Korean government has contributed $33 million to CEPI in 2020-23 and sits on the Investor Committee. CEPI will hold its first-ever board meeting in Korea on August 29-30, and Hatchett plans to meet with Korean companies and the International Vaccine Institute (IVI) during his visit.