Public Procurement Service, Early Execution of 32.2 Trillion KRW Procurement Contracts in the First Half of This Year
[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Public Procurement Service (PPS) is tightening the reins on early execution of procurement contracts in the first half of this year.
On the 11th, at the ‘2021 First Half Procurement Department Heads Video Conference,’ the PPS announced that it plans to execute procurement contracts worth 32.2 trillion KRW during the first half of the year.
According to the PPS, procurement contracts excluding foreign purchases are projected to reach 51.14 trillion KRW this year. This represents a 6% increase compared to last year’s 48.0545 trillion KRW, with procurement contracts to be executed in the first half accounting for 63% of the total (a 16% increase compared to last year’s 27.84 trillion KRW).
In particular, the PPS plans to accelerate projects such as the purchase of innovative products (44.5 billion KRW), which is funded by its own budget, and the next-generation Nara Market construction project (23 billion KRW for this year).
Meanwhile, the video conference was attended by department heads from the headquarters and 13 regional procurement offices. At this meeting, the PPS decided to establish a win-win procurement environment for the procurement industry this year, focusing on the keywords innovation, coexistence, and public safety.
Above all, the PPS’s policy is to ensure public safety through emergency procurement of COVID-19 vaccine testing and vaccination equipment, improvement of influenza vaccine procurement contracts, and stockpile management of emergency masks.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- General Strike D-1: Final Negotiations Between Samsung Electronics Labor and Management Over One Key Issue
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
Kim Jung-woo, Administrator of the PPS, stated, “This year, the government has set the goal of rapid and strong economic recovery and a major transition to a leading economy as its economic policy objectives. The PPS will do its best to ensure that public procurement, which amounts to 135 trillion KRW annually, supports companies in overcoming crises and contributes to public safety in line with this government policy.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
