Public Procurement Service Designates 52 New Companies as 'G-PASS'... Supporting Overseas Market Entry with K-Brand

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Public Procurement Service announced on the 26th that it has newly designated 52 companies as promising enterprises for overseas procurement market entry (Government Performance ASSured·G-PASS).

The newly designated companies include producers of excellent health and medical products such as intelligent transportation system technology-applied traffic management systems, significantly improved security video conferencing systems, automated external defibrillators, and health masks.

G-PASS refers to small and medium-sized enterprises and mid-sized companies selected quarterly by the Public Procurement Service to support their entry into overseas procurement markets, among procurement companies with excellent quality and technology of procured goods. The major target countries desired by the newly designated companies are China (12 companies), the United States (11 companies), and New Southern countries (22 companies), according to the survey.

The Public Procurement Service introduced the G-PASS system in 2013. The total number of companies designated as G-PASS in that year was 95, and through quarterly new designations, the number of G-PASS companies increased to 266 in 2015, 487 in 2017, and 663 in 2019.

Additionally, the export performance of G-PASS designated companies increased from $130 million in 2013 to $340 million in 2015, $580 million in 2017, and $750 million in 2019.

Previously, the Public Procurement Service has provided various supports tailored to each company's export capabilities, such as participation in overseas exhibitions and export consultation meetings, vendor registration and bid proposal preparation, and export strategy enterprise development projects for G-PASS designated companies.

In particular, reflecting the difficulty of participating in overseas exhibitions and consultation meetings due to the spread of the novel coronavirus infection (COVID-19) in the second half of this year, it plans to support domestic companies' export activities by inviting buyers online.

Jung Moo-kyung, Administrator of the Public Procurement Service, said, “While the export performance of most domestic companies has declined due to the COVID-19 pandemic, the demand and export of K-quarantine products such as diagnostic kits have increased dramatically. The Public Procurement Service will spare no effort to enhance the value of the K-brand and activate companies' entry into overseas procurement markets.”

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