JERUSALEM — Israel is sending 700,000 coronavirus vaccine doses to South Korea in exchange for a future shipment of vaccines from South Korea to Israel.

Under the deal, Israel will transfer the Pfizer vaccines to South Korea in an effort to inoculate more of the Asian nation’s citizens this month. South Korea will send the same number of doses to Israel as early as September, the officials added.

“This is a win-win deal,” Israel Prime Minister Naftali Bennett said in his statement.

Jung Eun-kyeong, South Korea’s top infectious disease expert, confirmed the deal. She said the Seoul government will continue to pursue swap deals with other countries.

Both countries are reporting a surge in new infections. South Korea topped 700 new confirmed cases of COVID-19 for the fourth straight day on Tuesday. Israel was seeing the most new infections in three months, with the delta variant driving the trend, the government says.