Government Raises Procurement Target for Innovative Products by 10%... Expands Product Count to Over 1,600

2022 1st Public Procurement Demand Discovery Committee

[Asia Economy Sejong=Reporter Kim Hyewon] The government has set the purchase target for innovative products at 685.3 billion won this year, a 10% increase, to expand the initial market for innovative companies. The number of innovative products is expected to expand to more than 1,600.

On the 25th, Ando Geol, the 2nd Vice Minister of the Ministry of Economy and Finance, chaired the first meeting of the public-private joint committee, the 'Public Procurement Demand Discovery Committee,' and reviewed and approved this plan.

This year, the number of product-designating lead ministries, including the Ministry of the Interior and Safety and the Ministry of Agriculture, Food and Rural Affairs, will be increased to more than eight, and the number of products will be expanded to over 1,600. Considering all conditions, the purchase target was adjusted upward to 685.3 billion won (last year 622.3 billion won).

Targets for each institution, including central ministries and local governments, were raised differentially across all institutions, taking into account the degree of achievement of last year's performance, the trend of annual purchase expansion, and differing purchasing conditions.

To strengthen incentives for achieving the target, the government plans to reflect this year's target in government innovation evaluations, public institution management evaluations, and local public enterprise evaluations, and to check progress quarterly at the Public Demand Discovery Committee.

Last year, the total number of innovative products was 968 (cumulative). This year, about 600 new innovative products (cumulative 1,600) will be designated, focusing on areas closely related to public life such as disaster safety, smart farms, and livestock disease prevention.

At this meeting, 24 products were newly designated after evaluation by the relevant ministry's expert committee (public interest and innovation) and review by specialized institutions. Among them is the 'Social Exclusion Prevention Management System,' which can monitor and preemptively identify crisis situations for vulnerable groups through an AI system combining voice and video.

The government plans to significantly expand the number of innovation product scouts, who discover innovative products produced by small and medium venture companies and match them with appropriate demand institutions, from 20 to 50.

Vice Minister Ahn said, "We will guide the purchase of innovative products in the public sector to spread and settle beyond pilot projects into full-scale purchase projects through public institution management evaluations, and we will devise measures to support innovative products to enter not only the public procurement market but also the private and overseas markets."

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