A handful of South Korean pharmaceutical companies have entered clinical trials to produce their own vaccines against COVID-19. 

The Ministry of Health and Welfare reported to President Moon Jae-in during a special quarantine policy checkup meeting on Monday that five local companies have embarked on trials, including SK Bioscience, Eubiologics, Cellid, Genexine and Geneone Life Science. 

The companies all aim to enter Phase Three trials from the second half of the year. 

The government has earmarked some 68-point-seven billion won to support the trials, with room for additional budget as necessary.