A sample of a COVID-19 vaccine developed by SK Bioscience is seen in this file photo. Yonhap

President Moon Jae-in praised a successful Phase 3 trial of the nation's first homegrown COVID-19 vaccine, developed by SK Bioscience, Tuesday.

Moon said he was pleased that SK Bioscience had successfully completed the vaccine's Phase 3 trial, a final step before being granted approval for emergency use, and encouraged the company's efforts, presidential spokesperson Park Kyung-mee said in a statement.

When SK Bioscience applies to get approval for the vaccine, relevant authorities need to thoroughly assess its safety and swiftly handle the approval procedure, Moon said.

On Monday, SK Bioscience announced that its vaccine candidate, codenamed GBP510, had produced successful results in the Phase 3 clinical trial.

The government has reached a deal to buy 10 million doses of the vaccine. (Yonhap)