South Korea

Are More People in Korea Dying from COVID-19 Vaccines Than COVID-19 Itself?

Cross Asset Strategy
1164 Views, 08 Jun 2021 08:01
EXECUTIVE SUMMARY

In this insight, we discuss the deaths rates after taking the COVID-19 vaccines as compared to the death rates related to the COVID-19 itself in South Korea.

The COVID-19 vaccines were supposed to be the panacea for the COVID-19 pandemic. It has been nearly 7 months since various COVID-19 vaccines have become available in different parts of the world. Once the vast majority of the people in the world take the COVID-19 vaccines, we were led to believe that this would lead to herd immunity and we would be free from the COVID-19 nightmare. Millions of people around the world have taken these COVID-19 vaccines because they thought that this would lead to much lower chances of them getting sick from this virus. 

Nonetheless, it has been becoming evident that these new COVID-19 vaccines have more bad side-effects. The COVID-19 vaccinations started in Korea on February 26th. As of June 5th, were there 206 people in Korea that died after taking the COVID-19 vaccinations (134 people were vaccinated with Pfizer jabs and 72 were vaccinated with the AstraZeneca jabs).

If you include all the deaths due to worsening of conditions after reporting of other symptoms, the total number of deaths after taking the COVID-19 vaccines would rise to 278 people.

The deaths are included for a period until the 36th day after taking the COVID-19 vaccinations. Despite these deaths, the government's official stance remains that they do not believe there are any relationships associated with the deaths of these 200+ people that died after taking the COVID-19 vaccinations with the vaccines themselves. In other words, the government has so far denied any linkage of the deaths of these people with the COVID-19 vaccines. 

All in all, if there are greater concerns about the effectiveness of the COVID-19 vaccinations, this could disrupt the CONFIDENCE in the people in returning to the pre-COVID economy and ways of life. 

detail

The total number of bad side effects that have been reported in Korea after taking the COVID-19 vaccines (February 26th - June 5th) were 33,442 cases. Among these side effects, 25,074 are related to AstraZeneca jabs and 8,368 are related to Pfizer jabs. More than 90% of the side effects include high temperature fever, muscle pains, headaches, and nausea. 

You can see in the chart below that as of June 6th, the percentage of people who received at least one dose of COVID-19 vaccine was 14.8% and those who received two doses of COVID-19 vaccine was 4.4%. As compared to other countries such as the United States, the overall COVID-19 vaccination rates in Korea remains low. 

South Korea (Share of People Who Received At Least One Dose of COVID-19 Vaccine) (Source: Our World in Data)

COVID-19 Cases & Deaths in South Korea

The charts below show the COVID-19 daily cases and deaths in South Korea. You can see that the daily new cases peaked in January 2021 at about 1,000 per day. In recent days, the daily new cases have ranged about 500 to 600 levels. 

The daily deaths related to COVID-19 in Korea peaked in December 2020 and since then has been declining. In June, the seven day average daily deaths is about 2. 

From February 26th to June 6th, there were 390 people in Korea who died due to complications from COVID-19. 

Source: Worldometer
Source: Worldometer

In other words, from February 26th to June 5th, there were 206 people in Korea that died after taking the COVID-19 vaccinations. If you include all the deaths due to worsening of conditions after reporting of other symptoms, the total number of deaths after taking the COVID-19 vaccines would rise to 278 people. In the same period, there were 390 people in Korea that died from the COVID-19 related complications. 

Of course, with regards to the people that died after taking the COVID-19 vaccinations, the government has taken a firm stance of not linking their deaths with the vaccines. However, these numbers are real and there are a lot of discussions going on in Korea at the supper tables of many families about whether or not the COVID-19 vaccines are safe enough. 

One of the promises of the COVID-19 vaccines has been that they will help to prevent people from catching the COVID-19 virus by 80 to 90%+ than if you do not take the vaccine. However, it appears that there are too many cases of side-effects that are reported which are hard to ignore. 

Next Steps and What May Happen in Korea

Going forward, the most likely scenario in Korea appears to be that the vaccination rates will increase much more. The biggest reason why the COVID-19 vaccination rates has been so low in Korea is not necessarily because there have been so many deaths or other side-effects but rather because of lack of supply.

However, the supply of the COVID-19 vaccines is becoming more available in Korea and as a result, the vaccination rate will increase much higher in the months ahead. By the end of August, it is very feasible that the vaccination rate (with at least one jab) could double from current levels (to nearly 30% of population). Overall, there are millions of people in Korea who would rather take the jab despite many cases of deaths and other bad side-effects after taking the vaccine. 

Nonetheless, there are millions of people in Korea that are highly skeptical of taking the vaccines because many of them are not really sure of their efficacy and they are concerned about the potential side-effects. 

Conclusion

There have been some disturbing data flow regarding the number of people that have died in Korea after taking the COVID-19 vaccines (although again, we cannot assume that the vaccines were the cause of their deaths). These death numbers combined with other bad side-effects is causing millions of people in Korea to have second thoughts about taking the COVID-19 vaccines.

Although Korea is likely to reach more than 30% of population receiving at least one shot of the COVID-19 jab, it may be difficult to convince more than half of the entire population to take two jabs of the COVID-19 vaccines in the next 3-4 months. 

As a result, it appears that the path to getting normal (pre-COVID) is NOT likely to occur this year in Korea. By normal, we mean most of the people going around not wearing masks and other activities such as travel and social gatherings going back to pre-COVID levels. 

All in all, if there are greater concerns about the effectiveness of the COVID-19 vaccinations, this could disrupt the CONFIDENCE in the people in returning to the pre-COVID economy and ways of life. 

Eric Clapton Blames ‘Propaganda’ for ‘Disastrous’ Covid Vaccine Experience (Source: Rolling Stones, Youtube)

WHAT’S TRENDING
logo
Logo
Top 5%
Douglas Kim
Korea/Asia, New Economy, IPOs, Events
South KoreaEquity Bottom-UpEquity Capital Markets

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following se... 

x