Gwangju Jeonnam Small and Medium Business Administration Purchases 9 Trillion Won Worth of SME Products in the First Half of This Year

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] The Gwangju-Jeonnam Regional Small and Medium Venture Business Administration (Director Jang Daegyo) announced on the 25th that in the first half of this year, 68 local public institutions purchased small and medium enterprise products worth approximately 9.16 trillion KRW (provisional figure).

This amount represents a 3.4% increase compared to the 8.86 trillion KRW purchased in the first half of last year.

By region, the Gwangju area purchased 860 billion KRW, a 16.5% increase compared to the same period last year; Jeonnam purchased 7.55 trillion KRW, a 2.1% increase; and Jeju purchased 750 billion KRW, a 3.2% increase.

The purchase amount by public institutions (35 institutions) was 5.29 trillion KRW, while administrative bodies such as local governments and education offices (33 institutions) purchased 3.86 trillion KRW, respectively.

The public procurement system is a system established by law that requires public institutions to purchase more than 50% of their products from small and medium enterprises to support their market access.

Over the past year, a total of 16.8 trillion KRW worth of small and medium enterprise products were purchased.

Director Jang Daegyo stated, “During the difficult times caused by COVID-19, the expansion of small and medium enterprise product purchases by local public institutions has been a great support for small and medium enterprises. We will continue to take the lead in supporting market access for small and medium enterprises through cooperation and promotion with local governments and public institutions.”

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