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ROK Government Pledges US$10 Million to COVAX AMC

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  • The government of the Republic of Korea has decided to contribute US$10 million to the COVID-19 Vaccines Advance Market Commitment (COVAX AMC), launched by Gavi, the Vaccine Alliance, to provide COVID-19 vaccines to developing countries.

  • Gavi aims to secure one billion doses of vaccine for the developing countries by the end of 2021 through the COVAX AMC, and to do so, it is making efforts to raise US$2 billion this year and at least US$5 billion in 2021 (around US$1.8 billion raised as of late October).

  • Previously, the ROK government had decided to buy in advance COVID-19 vaccines for 20 percent of its population through the COVAX Facility. The ROK’s contribution to the COVAX AMC will enable provision of vaccines to developing countries.

  • The COVAX AMC, which supports a total of 92 developing countries including all those with Gross National Income (GNI) per capita of less than US$4,000, is expected to contribute significantly to the equitable access to COVID-19 vaccines given its scope and size.

  • Amid the COVID-19 pandemic where no one is safe until everyone is safe, the ROK government has actively taken part in the international community’s solidarity and cooperation so that no one is left behind in the process of overcoming COVID-19.

  • The ROK’s support to the COVAX AMC is expected to contribute to the equitable distribution of safe and effective vaccines around the world as public goods for mankind, thereby accelerating the end of the COVID-19 pandemic. The ROK government will continue to take an active part in the international community’s response to COVID-19.