Gov’t to bolster growth of strong exporters via public procurement system
The government will create an ecosystem whereby promising export firms are able to fortify cooperation with their foreign counterparts, in a demand-oriented market service established to generate stable robust growth of the public procurement industry, the head of the state-run public procurement agency said, Monday.
A greater number of exporters will be able to find both privateand publicly run business partners, as matched by strengthened demonstrations of innovative products overseas as well as integrated overseas development assistance (ODA) projects, according to Public Procurement Service (PPS) Administrator Lim Ki-keun.
It will also expand support for innovative products to be selected for the overseas emergency relief programs, jointly by the foreign ministry and Korea International Cooperation Agency (KOICA).
“The Public Procurement Service’s efforts prioritize bolstering exports, underpinned by all available government resources that can propel local players succeed in the challenging global market,” Lim said in an interview with The Korea Times.
Central to the objective will be the creation of an ecosystem encompassing expansion of overseas networking, identifying and fostering local firms with great growth potential.
“Many budding firms with excellent technological capabilities and growth strategies will be able to gain a footing on the global stage,” he said.
“The PPS will continue cooperating with the Ministry of Foreign Affairs and its KOICA to support the promotion of locally developed goods and services that can be elevated as a growth driver for the country.”
Korea Public Procurement Expo 2024
A record-high 650 firms will be able to expand overseas business opportunities at the Korea Public Procurement Expo 2024.
The three-day annual event will be held at the Korea International Exhibition Center (KINTEX) in Goyang, Gyeonggi Province, from Wednesday to Friday.
Organized by the PPS, the event provides tailored government assistance for excelling small and medium-sized industry players seeking greater growth opportunities overseas.
This year’s event will showcase high-tech products, including demonstrations of artificial intelligence (AI) technologies and research-intensive products such as 3D printers.
About 1,100 booths will be set up to display Korea-made products to help visitors understand the latest market trends.
Officials from some 20 countries as well as the OECD and Inter-American Development Bank (IDB) will be participating in International Public Procurement Workshop (IPPW) held during the expo, sharing the latest information on public procurement.
There will also be the Multilateral Meeting on Government Procurement (MMGP), where representatives from Korea, the U.S. the U.K., Canada, Italy and Chile — six leading economies in the global public procurement market — will be discussing innovation and the future of public procurement. Multilateral meetings and high-level bilateral meetings are in store.
Drawing much anticipation is the Consumer Electronics Show (CES) Hall, where cutting-edge tech products introduced at the show held in U.S. in January this year will be displayed. Included are robots that detect and remove pollutants from the sea.
At the booth set up jointly by the defense ministry will be autofocus binoculars, high-protection material safety boots and blankets.
There will also be export consultations, totaling around 750, with some 90 overseas buyers.
Adding significance to this week’s event is the first participation of the International Network of Korean Entrepreneurs (INKE).
Events for public
The state-run agency will run a sales hall for members of the public to purchase products manufactured for global public procurement at a low price.
“The sales event is to promote the excellent quality of locally manufactured goods and services to the public,” Lim said.
“A variety of events will be held to help a wider public enhance understanding of the government procurement policies and receive feedback to improve the status quo.”
Lim plans to broaden the circle of contacts to include government bodies, private sector and the public, an effort he considers vital to bolster effective policymaking.