Transition Team Reports to Public Procurement Service... Discussing Expansion Plans for Supporting Youth Venture Public Market Access

President-elect Yoon Suk-yeol is entering the office of the 20th Presidential Transition Committee in Tongui-dong, Jongno-gu, Seoul, after finishing an external schedule on the 29th. Photo by Transition Committee Press Corps

[Asia Economy Reporter Yoo Byung-don] On the 29th, the Economic Subcommittee 1 of the Presidential Transition Committee received a business report from the Public Procurement Service at the transition office in Tongui-dong, Jongno-gu, Seoul.

Attending the business report were Choi Sang-mok, secretary of Economic Subcommittee 1, transition committee members Kim So-young and Shin Sung-hwan, as well as experts and working-level officials.

The Public Procurement Service reported to the Presidential Transition Committee on expanding public market support for youth startups and venture companies, and stockpiling key economic security items to respond to supply chain crises.

They also reported on the promotion of stockpiling key economic security items to respond to supply chain crises and rapid supply plans for rapid antigen test kits.

The transition committee stated, "The Public Procurement Service is a ministry directly related to the lives of the people, including procurement companies and demand institutions, so please focus on policies that the public can feel," and added, "Please faithfully perform your role so that small and venture companies can actively participate in public procurement and the growth ladder of small and venture companies can be restored."

In response, the Public Procurement Service replied that they would actively discover and promote tasks such as expanding public market support for youth startups and venture companies.

Furthermore, the transition committee and the Public Procurement Service discussed measures to support private innovation growth and job creation through innovative procurement in relation to the new government's pledge implementation, public stockpiling of externally dependent items and strengthening emergency response capabilities, and plans to establish a data-based digital procurement platform.

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