SK Bioscience, the South Korean pharmaceutical company backed by Bill Gates, may be capable of producing 200 million coronavirus vaccine kits by next June, the Microsoft Corp. co-founder said in a letter to South Korean President Moon Jae-in.

Gates is seeking to cooperate closely with South Korea, the presidential office in Seoul said Sunday, citing the July 20 letter. 

The U.S. billionaire and Moon spoke by phone in April about teaming up to fight the virus and develop a vaccine, the Blue House said.

The world is in a race to develop a vaccine that could protect masses against a virus that has wreaked havoc on the global economy. 

Gates has said investment in factories across the world can ensure regions beyond the U.S. won’t be left behind in the rush for COVID-19 vaccines.

(With input from the agencies)