LG Group chief donates 1 bln won to virus vaccine research

SEOUL, July 27 (Yonhap) -- LG Group chief Koo Kwang-mo has donated 1 billion won (US$836,400) to research and development of a coronavirus vaccine, officials here said Monday.

Koo, who heads South Korea's fourth-largest conglomerate, gave the financial support to the International Vaccine Institute (IVI), an international nonprofit organization dedicated to developing and supplying vaccines to those in developing countries.

LG said the donation was made personally by Koo, who expressed hopes of developing a vaccine to overcome the COVID-19 crisis.

The international body has been conducting research for a vaccine for the novel coronavirus.

The IVI, which has an office at the premises of Seoul National University, was set up in 1997 by the United Nations Development Program devoted to fighting diseases. It is the first international body to have its head office in South Korea.

kdon@yna.co.kr
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