Why Bill Gates Met SK Bioscience and LG Chem but Not Vaccine Specialist GC Pharma

[Korea Financial Times, Yang Hyunwoo] Bill Gates, chair of the Bill & Melinda Gates Foundation, visited Korea for the first time in three years. The Gates Foundation, a nonprofit organization, has been one of the world’s most influential backers of vaccine development.

During this trip, Gates met with Korean biopharma companies including SK bioscience and LG Chem at a meeting hosted by the International Health R&D Fund (the RIGHT Fund). Conspicuously absent was GC Pharma, widely regarded as Korea’s leading vaccine developer.

According to industry sources, the Gates Foundation and RIGHT Fund held the meeting on August 20 in Yeouido, Seoul, with member companies SK bioscience, LG Chem, and EuBiologics. The session focused on updates in vaccine, therapeutic, and diagnostic R&D.

The RIGHT Fund, jointly financed by Korea’s Ministry of Health and Welfare and the Gates Foundation, supports research projects that target diseases imposing heavy burdens on low- and middle-income countries. It also helps connect global health institutions with Korean companies.

Industry attention has turned to GC Pharma’s absence. The explanation is simple: GC Pharma is not a member of the RIGHT Fund. GC Pharma official commented, “The RIGHT Fund does not directly align with our business, so we did not participate.”

Instead, GC Pharma is affiliated with Gavi, the Vaccine Alliance, which has strong backing from the Gates Foundation. Established at the World Economic Forum in 2000 under Gates’s leadership, Gavi now partners with the WHO, UNICEF, the World Bank, and the Gates Foundation.

Since its launch, Gavi has provided vaccines to 1.1 billion people. Over the same period, global under-five mortality has fallen from about 10 million in 2000 to under 5 million in 2023. Through Gavi, the Gates Foundation aims to reduce vaccine costs and expand access worldwide.

Roughly 11% of Gavi’s vaccine supply comes from Korean manufacturers, including SK bioscience, LG Chem, EuBiologics, and GC Pharma. The Gates Foundation’s Korea visit was seen as an effort to strengthen this supply base.

The push comes as the U.S. government halts its funding to Gavi. In June, U.S. Health and Human Services Secretary Kennedy said the diphtheria–tetanus–pertussis (DTP) vaccine could raise child mortality risks.

Gavi responded that in regions with poor healthcare access and high infection risk, the protective benefits far outweigh temporary adverse effects. Washington has yet to signal a reversal of its decision.

For Korean firms, joining Gavi is attractive because it provides not only development and clinical support from the Gates Foundation but also access to broader global distribution networks.

An SK bioscience official noted, “As a latecomer in global markets, our distribution network is still insufficient. Support helps us expand product use, which is a major advantage.” The official added, “Support from the Gates Foundation at the development and clinical stages is feeding into broader distribution, which, in turn, connects to additional support—forming a virtuous cycle.”

Yang Hyunwoo (yhw@fntimes.com)