Export-Import Bank: "Challenge the $10 Trillion Overseas Funding Market"

Online Course Held to Support Small and Medium Enterprises' Entry into International Procurement Markets
Explanation of ODA Project Procurement Procedures and Winning Strategies for Participation in ODA Procurement Markets

Visiting Kyu Bang, President of the Export-Import Bank, is delivering a greeting at the 'Online Lecture to Support Small and Medium-sized Enterprises' Entry into the International Procurement Market' held on the 12th at the bank's headquarters in Yeouido.

[Asia Economy Reporter Kangwook Cho] The Export-Import Bank of Korea announced on the 12th that it conducted an 'Online Course to Support Small and Medium-sized Enterprises (SMEs) and Mid-sized Companies in Entering the International Procurement Market' jointly with 11 organizations.

The International Procurement Market Entry Support Council consists of the Export-Import Bank of Korea, Korea International Cooperation Agency (KOICA), Korea Infrastructure and Urban Development Corporation (KIND), National IT Industry Promotion Agency (NIPA), Korea Environmental Industry & Technology Institute (KEITI), Korea Foundation for International Healthcare (KOFIH), Korea Trade-Investment Promotion Agency (KOTRA), International Contractors Association of Korea (ICAK), Korea Engineering Contractors Association (KENCA), Korea Port Association (KPHA), Korea Medical Devices Industry Cooperative Association (KMDICA), and Korea Information & Communication Contractors Association (KICA).

The course was designed to assist SMEs and mid-sized companies in entering the international procurement market through customized lectures on procurement procedures and bidding strategies for participation in Official Development Assistance (ODA) projects. Especially, to prevent COVID-19 infection, the course was conducted in a 'non-face-to-face video lecture format,' with about 150 participants from over 100 domestic companies.

Experts from the Economic Development Cooperation Fund (EDCF), KOICA, Asian Development Bank (ADB), and Public Procurement Service explained procurement procedures in an easy-to-understand manner to enhance understanding of overseas procurement systems, including ODA.

First, the Export-Import Bank of Korea provided lectures on feasibility studies and consulting for domestic companies to participate in EDCF concessional loan projects supported by Korea in developing countries, methods for participating in main procurement, and points to note. KOICA also guided KOICA procurement procedures and strategies for entering the international grant aid procurement market.

Jang Yujeong, ADB Social Development Specialist, explained ADB’s procurement system and precautions when participating in infrastructure projects based on her current experience. Jung Sumin, an official from the Public Procurement Service, introduced support systems for entering overseas procurement markets, such as the G-PAss (Global Procurement Assistance Center), in detail during the lecture.

Bank President Bang Moon-kyu said in his greeting, "Since Korea’s public procurement market is already saturated, we need to turn our eyes to the overseas procurement market worth 10 trillion dollars," adding, "I hope that our SMEs and mid-sized companies with excellent technology and products can successfully enter international procurement markets such as MDBs based on the know-how acquired through this lecture."

Meanwhile, this 'Practical Course to Support SMEs and Mid-sized Companies in Entering the International Procurement Market' is the 13th session, held annually since the launch of the 'International Procurement Market Entry Support Council' in 2012.

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