SK Bioscience Selected as Second Bio-Investment Recipient of National Growth Fund

Approval of 300 Billion Won Low-Interest Loan

"Aiming to Enter the Global Pneumococcal Vaccine Market"

SK bioscience has been selected as the second bio-investment recipient of the National Growth Fund. With government-backed funding for advanced strategic industries now being directed toward vaccine research and development and the expansion of production infrastructure, the policy to foster the domestic vaccine industry is expected to be further strengthened.

SK Bioscience Songdo Global R&PD Center exterior. SK Bioscience

According to the Financial Services Commission and the Bio Economy Research Center of the Korea Biotechnology Industry Organization on May 29, the National Growth Fund’s Fund Management Committee approved a low-interest loan of 300 billion won to SK bioscience the previous day. This marks the second bio-investment following the 85 billion won support provided to Vitgen (formerly STGEN Bio) in April.

This round of support consists of 250 billion won from the government’s Advanced Strategic Industry Fund and 50 billion won from the Korea Development Bank. On the same day, the Financial Services Commission announced that a total of 4.14 trillion won in funding was approved for five projects, including FuriosaAI and SK bioscience.

SK bioscience plans to use these funds for global phase 3 clinical research and development (R&D) of its 21-valent pneumococcal conjugate vaccine, which is being co-developed with French pharmaceutical company Sanofi, as well as for the expansion of its vaccine manufacturing plant in Andong, North Gyeongsang Province. The Andong L House is recognized as the largest vaccine production facility in Korea.

SK bioscience’s 21-valent pneumococcal conjugate vaccine candidate entered phase 1 clinical trials in 2018 and is currently undergoing global phase 3 trials. The company aims to announce topline results in 2027 and is targeting a global market launch in 2029.

The pneumococcal vaccine market is dominated by global big pharma companies. Currently, the market is led by Pfizer’s 13-valent and 20-valent pneumococcal vaccines under the brand name Prevnar. Prevnar recorded sales of USD 6.5 billion (approximately 9.7272 trillion won) in 2025. Among 21-valent vaccines, MSD’s adult vaccine Capvaxive received approval from the U.S. Food and Drug Administration (FDA) in 2024.

The Financial Services Commission commented on the support, stating, “This initiative will pave the way for domestic companies to enter the next-generation premium vaccine market and serve as a stepping stone for Korea to emerge as a vaccine powerhouse.”

This content was produced with the assistance of AI translation services.