Public Procurement Service to Spend 520 Billion KRW on Overseas Purchases This Year

[Asia Economy (Daejeon) Reporter Jeong Il-woong] This year, the scale of goods to be procured abroad by about 400 institutions including national agencies and local governments is estimated to be around 520 billion KRW.

The Public Procurement Service announced the "Overseas Goods Purchase Plan" on the 31st based on this information. Overseas goods refer to items that are not produced or supplied domestically or are purchased with loan funds.

Major overseas goods to be purchased include two large helicopters for life-saving and coastal security (Coast Guard 56 billion KRW, Fire Agency 48 billion KRW), and the Salt Mountain Cable Car (Wonju City 8.5 billion KRW), among others.

By institution, the order scale is largest for national agencies at 276.2 billion KRW, followed by local governments at 118.7 billion KRW, research institutes at 91.6 billion KRW, and other public institutions at 33.8 billion KRW.

The Public Procurement Service plans to promote early purchases in the first half of the year focusing on high-value items and expects to complete the execution of the planned target amount by the end of the year.

To this end, the Public Procurement Service will shorten the project announcement period from the previous 40 days to 25 days to ensure that procurement projects reflected in the procurement plan proceed swiftly, and will strengthen cooperation with national agencies and local governments with large order volumes.

Detailed information on the overseas goods purchase plan can be found on the Public Procurement Service website and the national comprehensive electronic procurement system Nara Market.

Choi Ho-cheon, Director of the Public Goods Bureau, said, "The overseas goods purchase examples are prepared to promote efficient budget execution through planned procurement of goods," adding, "By providing comprehensive bidding information in advance, we will offer bidding opportunities not only to overseas suppliers but also to domestic small and medium-sized enterprises, enabling each company to establish a planned business strategy."

This content was produced with the assistance of AI translation services.