Public Procurement Service Supports SMEs in Securing Raw Materials with Discounted and Credit Sales of Stockpiled Goods

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Public Procurement Service announced on the 25th that it will support small and medium-sized manufacturing companies in securing raw materials stably by selling non-ferrous metals such as copper, which have recently surged in price, at a discount and on credit.

The discount rate for each item is applied at 1% to 3%, reflecting the recent price increase rate. For example, copper, which saw a significant price increase this month, is sold at a 3% discount, while aluminum and tin are each sold at a 1% discount. The sales limit is about 32.8 million tons.

The Public Procurement Service will also offer sales on credit to support liquidity for companies using stockpiled materials that are experiencing financial difficulties.

Through this, small and medium-sized enterprises can receive stockpiled materials on credit for 6 to 9 months at an annual interest rate of 2%. However, the credit limit is up to 2 billion KRW.

In addition, 1,800 tons of ferrosilicon (classified as ferroalloy, mainly used in the steel industry), which has faced supply disruptions due to China's recent overseas export restrictions, will also be sold. Although ferrosilicon is generally lent, the Public Procurement Service, in consultation with the Korea Resources Corporation, has temporarily allowed sales starting from the 24th.

Kim Jeong-woo, Administrator of the Public Procurement Service, said, “We plan to continuously monitor the prices and supply-demand trends of major non-ferrous metals and respond quickly and appropriately,” adding, “The Public Procurement Service will spare no effort to support domestic small and medium-sized enterprises in securing raw materials stably through stockpiling projects to overcome management difficulties.”

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