South Korea said it will receive 700,000 doses of Pfizer-BioNTech's coronavirus vaccine from Israel on loan this week, in an attempt to speed up immunization following a surge in infections around the capital Seoul.

More than 1,000 COVID-19 cases were reported as of 6 p.m. on Tuesday, the highest since December and hundreds more than the 746 cases posted on Monday, the Yonhap news agency reported, citing South Korean government health officials.

Under the vaccine swap arrangement announced by both governments on Tuesday, South Korea will give Israel back the same number of shots, already on order from Pfizer, in September and October.