Signing of Memorandum of Understanding to Support SMEs and Ventures through Innovative Procurement
Reducing Procurement Suitability Review Period to Within 20 Days
Operation of 'Public Procurement Policy Council'... Specific Agreement Details

Minister Kwon Chil-seung of the Ministry of SMEs and Startups / Photo by Hyunmin Kim kimhyun81@

Minister Kwon Chil-seung of the Ministry of SMEs and Startups / Photo by Hyunmin Kim kimhyun81@

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[Asia Economy Reporter Kim Bo-kyung] The Ministry of SMEs and Startups and the Public Procurement Service signed a memorandum of understanding on the 22nd at the Daejeon Government Complex to support SMEs and startups through innovation in the public procurement system.


Through this MOU, the two organizations agreed to strengthen ▲support for the growth of innovative SMEs ▲competition systems among SMEs and win-win cooperation between large and small businesses ▲support for SMEs' entry into overseas markets ▲joint cooperation in producing public procurement statistics.


First, they will jointly work to proactively discover innovative products from SMEs and promote technology development. To this end, the Public Procurement Service will shorten the procurement suitability review period from the current 30 days to within 20 days.


They will also actively promote innovative products from SMEs through Innovation Market, Nara Marketplace Shopping Mall, and Venture Nara. Opportunities for innovation procurement education will be provided to SMEs and demand organizations. They will work together to expand participation in innovation procurement through policy briefings and exhibitions.


They plan to install an exhibition hall for 'Win-win Cooperation Products' within the Nara Marketplace Shopping Mall and promote product certification mark registration. By expanding public procurement statistics centered on Nara Marketplace data, they aim to efficiently support public procurement policies such as purchase target ratios for SME products and competition systems among SMEs.

Kim Jung-woo, Administrator of the Public Procurement Service. Photo by Hyunmin Kim kimhyun81@

Kim Jung-woo, Administrator of the Public Procurement Service. Photo by Hyunmin Kim kimhyun81@

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Regarding excellent SMEs' overseas procurement projects, the two organizations plan to grant mutual bonus points. They will actively promote joint operation of exhibitions and promotional halls and exchange information on excellent companies.


Kim Jung-woo, Administrator of the Public Procurement Service, stated, "This year marks the full-scale promotion of demand-based innovation procurement by the Public Procurement Service, and I hope that SMEs and startups will use innovation procurement participation as an opportunity to enter and grow in the public procurement market."


Kwon Chil-seung, Minister of SMEs and Startups, said, "It is expected to greatly contribute to expanding opportunities for innovative SMEs' entry into the procurement market and fostering leading companies in the Green New Deal and Digital New Deal."



In the future, the two organizations will operate a 'Public Procurement Policy Council' to concretize the agreed matters.


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

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