Samsung Biologics, a South Korean biopharmaceutical firm, signed an agreement to manufacture Moderna's COVID-19 vaccine at its local factory.

Samsung on Sunday announced the contract, under which it will provide Moderna with contract manufacturing organization (CMO) services for its mRNA vaccine.

Samsung will immediately introduce the related technology for the whole process of the local production.

It plans to begin aseptic fill-finish, labeling and packaging to produce hundreds of millions of doses of the Moderna vaccine for markets outside the United States starting in the third quarter.

Samsung Biologics CEO John Rim said that the vaccine is paramount to people around the world in the fight against the pandemic, while appreciating Moderna for entrusting and choosing to partner with his firm for the fill and finish of the vaccine.