Public Procurement Service, Nara Marketplace Transaction Volume Reaches '120 Trillion Won'... 6.5% Increase Compared to Previous Year

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Last year, the transaction volume of Nara Market reached 120 trillion KRW. This represents a 6.5% increase compared to the previous year and accounts for 19.8% of last year's government budget of 604.9 trillion KRW.

According to the Public Procurement Service on the 12th, transactions through Nara Market last year amounted to 52.4 trillion KRW in central procurement and 67.6 trillion KRW in self-procurement. Central procurement increased by 7.5 trillion KRW from 48.8 trillion KRW in 2020, and self-procurement rose by 5.7 trillion KRW from 63.9 trillion KRW.

The transaction share by sector in Nara Market was ▲ Construction 47.9 trillion KRW (39.9%) ▲ Goods 39.2 trillion KRW (32.7%) ▲ Services 31.8 trillion KRW (26.5%) ▲ Foreign capital 0.7 trillion KRW (0.6%) ▲ Stockpiling 0.5 trillion KRW (0.4%) in descending order.

In particular, the stockpiling sector last year increased by 117.7% compared to the previous year (0.2 trillion KRW). This is analyzed to be influenced by raw material supply disruptions intensified by trade disputes and increased demand from domestic companies.

In the demand sector, the order volume by institution was largest for local governments at 55 trillion KRW (45.9%), followed by national agencies at 21.5 trillion KRW (17.9%), and educational institutions at 12.4 trillion KRW (10.3%).

Among individual institutions, the Ministry of Environment, Seoul Metro, and Seoul Metropolitan Government Urban Infrastructure Headquarters had the highest order volumes.

In the supply (contract) sector, the distribution of companies by scale showed that small and medium-sized enterprises accounted for the largest share at 94.7 trillion KRW (78.9%). This was followed by large enterprises at 9.8 trillion KRW (8.2%) and mid-sized enterprises at 8.9 trillion KRW (7.4%). Compared to the previous year, the order volume increased by 4.3 trillion KRW, 1.3 trillion KRW, and 1.3 trillion KRW respectively.

Meanwhile, the Public Procurement Service generates and discloses procurement data and statistics for the entire public sector, including Nara Market, to support effective procurement policy formulation.

Detailed data such as procurement details can be checked on the Procurement Information Disclosure Portal, and procurement statistics are available on the National Procurement Statistics System (Onttong Procurement).

Kim Jung-woo, Administrator of the Public Procurement Service, said, “The scale of public procurement is expected to continue growing steadily. The Public Procurement Service will strive to operate public procurement policies efficiently and rationally so that the increasing public purchasing power can be linked to a fair economy and innovative growth.”

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