The government said a rise in prices of Pfizer and Modera COVID-19 vaccines is likely to impact supply contracts for next year, though not this year. 

Health Ministry official Son Young-rae made the remark in a briefing on Monday with regard to media reports that Pfizer and Moderna have raised the prices of their vaccines in their latest European Union supply contracts. 

He said that even if the nation were to be affected by the rise, that would come during negotiations on supply contracts for next year. 

Son then stressed that it is imperative for the nation to secure its own domestically produced COVID-19 vaccine in the mid to long run in order to maintain a steady supply.