"I think it's likely that we will have evidence of safety and efficacy by later this year or early 2021."
Among the medical experts that attended Wednesday Medical Korea Symposium event, Director General of the International Vaccine Institute, Jerome Kim, along with Poo Ha-ryoung, a bioscience investigator seemed hopeful of a COVID-19 vaccine being ready soon.
A vaccine usually takes five to 10 years of research and development as well as billions of dollars in investment.
But there are ways to shortern the process to 12 months.
"They speed the process up by simultaneously conducting phase one and two. That's why they say the whole process can be done in a year."
Currently, biotechnology companies like Moderna and Johnson and Johnson are taking the lead in the race to produce coronavirus vaccines with their reaching beyond the final phases of clinical trial.
But the real winner isn't who produces the vaccine first, but the one that can produce billions of doses safely and efficiently.
"But what does the day after efficacy look like? The big question, who's going to make 16 billion doses of vaccine?"
With developers seeking reputable companies to produce safe and effective vaccines, South Korean firm SK Bioscience is currently working with Astrazeneca and Novavax to expand production and distribution.
Kim Yeon-seung, Arirang News