Excellent Agricultural Food R&D Products Purchased by Public Institutions

Ministry of Agriculture, Food and Rural Affairs Implements 'Innovative Product Designation System'

[Sejong=Asia Economy Reporter Moon Chaeseok] The 'Excellent R&D Innovative Product Designation System,' under which public institutions purchase outstanding agricultural and food products developed through government research and development (R&D), will be implemented. This aims to support market expansion and help companies grow.

The Ministry of Agriculture, Food and Rural Affairs announced that it will open the designation application from the 13th and accept applications from the 28th of this month until the 12th of next month. The system was introduced last year under the Ministry of Economy and Finance (Public Procurement Service), and after the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Economy and Finance, and the Public Procurement Service jointly prepared designation guidelines last month, this is the first time a public call is being conducted.

Once designated as an innovative product, it will be registered in the Public Procurement Service's Innovation Market for three years. When government ministries, public institutions, and local governments conduct public procurement, these products will be included in the 'Innovative Product Purchase Target System.' The purchase target system, introduced last year, requires institutions to spend 1% of their procurement budget on innovative products and evaluates them accordingly.

Source: Ministry of Agriculture, Food and Rural Affairs

Any small and medium-sized enterprise possessing products developed through agricultural and food R&D projects since January 1, 2016, can apply. Applications must be submitted through the Agricultural and Food R&D Project Integrated Information Service website by the 12th of next month. More detailed information can be found in the notices on the Ministry of Agriculture, Food and Rural Affairs and the Korea Institute of Planning and Evaluation for Technology in Food, Agriculture, and Forestry websites. After the 12th of next month, the evaluation will proceed in three stages: 'presentation evaluation (evaluation committee) → on-site evaluation → comprehensive review.'

Kim Jong-gu, Director of Agricultural Life Policy at the Ministry of Agriculture, Food and Rural Affairs, said, "Through the Excellent R&D Innovative Product Designation System, it will be possible for excellent products to enter the market early, contributing to private sector technological innovation and innovative growth. We will continue to take the lead in expanding market opportunities for agricultural and food SMEs."

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