KRW 2.85 tln for KDCA COVID-19 vaccine supplementary budget

KRW 2.3 trillion added this year, out of total KRW 3.8 trillion for procuring vaccines for 79 million

The Korea Disease Control and Prevention Agency (KDCA) has secured an additional budget of 2.35 trillion won for procuring COVID-19 vaccines from overseas.

 

This reflects additional 2.30 trillion won from this year.

 

On Mar.

 

25, KDCA announced that this increase was reflected as the first supplementary budget in the year 2021.

 

The total cost of vaccine purchase for 79 million people the government has contracted for is 3.81 trillion won, of which the additional cost in 2021, excluding the already secured budget, is 2.35 trillion won.

 

Specifically, COVAX Facility (10 million), AstraZeneca (10 million), Pfizer (13 million), Janssen (6 million), Moderna (20 million) and NovaVax (20 million) are to supply the vaccines.

 

To the date, the government has been sequentially expanding pre-purchase contracts according to the COVID-19 vaccine procurement plan, and has prepared necessary financial resources such as for upfront payments.

 

The government has so far secured total 1.21 trillion won, including 356.2 billion won from last year’s contingency budget plan and 857.1 billion won from this year’s budget plan.

 

Moreover, KDCA explained the additional cost of final vaccine payment was reflected on the new supplementary budget plan as the detailed calculation of the payments can be finalized after the negotiation over vaccine type, unit price and volume is concluded.

 

KDCA elaborated the vaccines with already-signed contracts have been rolling out since February, and the agency would continue to roll out further doses of vaccines without an issue.

 

And the new supplementary budget plan also reflects 1.10 trillion won for additional reserve for specific purpose, such as response against extended outbreak of COVID-19 and vaccine inoculation and related infrastructure cost.

 

Due to finalized supplementary budget plan, the total expenditure in 2021 by KDCA was increased from 991.7 billion won to 3.34 trillion won.