Public Procurement Service to Pilot Purchase Innovative Products Worth 46.5 Billion KRW This Year

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Public Procurement Service (PPS) will undertake a pilot purchase of innovative products worth 46.5 billion KRW this year.

According to the PPS on the 3rd, the pilot purchase of innovative products is rooted in the PPS acting as the first purchaser by directly buying innovative products and then supplying them to the government and public institutions to promote the purchase of innovative products in the public market and induce innovative growth.

In particular, this year, more than half of the purchase budget will be executed in the first half of the year to support market expansion for small and medium-sized enterprises (SMEs) struggling due to COVID-19.

To this end, the PPS began accepting basic plans for pilot use from companies designated as innovative product companies in December last year.

Additionally, the schedule for demand surveys for pilot purchases has been disclosed on the Innovation Market to allow companies designated as innovative product companies and public institutions to predict the timing of pilot purchases and apply for pilot use in a timely manner, thereby supporting initial market expansion for products without pilot purchase history after designation as innovative products.

Kim Jeong-woo, Administrator of the PPS, stated, “The pilot purchase of innovative products is a key means to improve public services and support market expansion for innovative products,” adding, “The government will act as the first purchaser of innovative products to promote technology development by SMEs and improve the quality of life for the public through innovative procurement.”

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