Korea expands procurement exports

PROCUREMENT STRATEGY   GOVERNMENT   EXPORTS

Korea - The state procurement agency of Korea will be broadening the export scope of its procurement system to 20 countries for local suppliers to gain easier access to contracts.

"Korean companies need to take advantage of the business opportunities opening up with trade pacts across the globe," chief of the Public Procurement Service Choi Kyu-youn said in an article by The Korea Herald.

The unit is now making the sale of electronic procurement system Narajangteo its priority, where its exports will jumpstart opportunities for local suppliers.

The sale will also expand Seoul's network with foreign officials, Choi added.

Local companies have had difficulties penetrating the public procurement market due to strict restrictions on foreign ownership, but the increase in trade pacts has gradually worked in their favour.

PPS together with Samsung SDS had previously sold Narajangteo to Costa Rica at 11.3 billion won last August, while the Mongolian government is expected to adopt the system this month.

"PPS is ready to provide all necessary support to help local suppliers going abroad. Contracts with governments will secure long-term business deals," Choi said.

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