The vaccine maker said in a statement it has signed an agreement with the government of North Gyeongsang Province and the city of Andong, about 190 km (118 miles) southeast of Seoul, to expand its plant there and buy new land.

SK bioscience said it plans to add some 99,130 square metres of additional production space in the area.

Its Andong plant produces COVID-19 vaccines developed by AstraZeneca Plc and Novavax Inc.

The company said last week the facility had received European Union Good Manufacturing Practices (GMP) certification, enabling SK to export vaccines to Europe.

($1 = 1,138.5300 won)

(Reporting by Joyce Lee; editing by Richard Pullin)