The Ministry of Food and Drug Safety on Wednesday approved South Korea's first homegrown COVID-19 vaccine.
It's from SK Bioscience, and is called G-B-P-5-1-0 or (Sky-ko-vee-won) SKYCovione.
The ministry said that it granted the approval based on standards used by other developing countries and after clinical trials were completed earlier this year.
"South Korea now has become the country that has both the COVID-19 treatment and vaccine. We've formed a health security system that can respond to future infectious diseases more preemptively."
The vaccine has also received an approval recommendation from the Ministry of Food and Drug Safety's Central Pharmaceutical Review Committee.
The committee said the vaccine's neutralizing antibody response is almost three times better than that of AstraZeneca.
It induces an immune response through an injection of genetically recombinant proteins and can be stored in temperatures ranging from two to eight degrees Celsius.
This means that it doesn't require freezer storage, like with some other types of COVID-19 vaccines.
According to SK Bioscience, commercial approval would be the next step, possibly later this year depending on virus prevention guidelines.
The company is also going to try to get the shot on the WHO's list of vaccines for emergency use.
SKYCovione was approved for adults over 18, with two doses to be administered in a four-week interval.
Lee Shi-hoo, Arirang News