Public Procurement Service Holds 'Public Procurement Export Consultation' On-site for the First Time in 3 Years... $5.5 Million Export Contracts

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Public Procurement Service (PPS) will hold an offline public procurement export consultation meeting for the first time in three years since the COVID-19 pandemic. A total of $5.5 million worth of export contracts are expected to be concluded at the consultation meeting.

The PPS announced on the 25th that it will hold the '2022 Public Procurement Export Consultation Meeting' from the 25th to the 3rd of next month at the InterContinental Hotel in Seoul, together with the Ministry of Foreign Affairs and the Korea Trade-Investment Promotion Agency (KOTRA).

The consultation meeting is designed for 127 domestic companies to meet with ordering agencies and buyers from 17 countries across the Americas, Asia, and Africa to establish business cooperation relationships and explore opportunities for overseas market expansion.

The main consultation fields include quarantine, pharmaceuticals, sterilization, construction equipment, electrical and electronics, IT, machinery, and parts.

As a side event of the consultation meeting, the PPS will also hold a briefing session on entering overseas procurement markets, an innovative product technology briefing, and an export contract signing ceremony.

First, the briefing session on entering overseas procurement markets is scheduled to be held on the opening day of the consultation meeting (the 25th). Representatives from the United Nations Development Programme (UNDP) and procurement officials from the United States, Peru, and Italy will participate on-site to share each country's procurement policies, directions, and strategies for entering promising product sectors.

On the 26th, an innovative product briefing will be held to introduce five domestic innovative products, including digital locks and flammable hazardous material storage cabinets, to buyers from 67 overseas companies.

In particular, on the 1st of next month, a session will be held where domestic companies will sign actual export contracts with overseas ordering agencies and buyers.

The PPS emphasized that at this event, 11 procurement companies including KSI Co., Ltd. are expected to sign contracts to export products worth approximately $5.5 million through 14 companies in countries such as Thailand and Australia.

Jong-wook Lee, Administrator of the PPS, said, “This year’s consultation meeting will resume offline events that were temporarily halted due to the COVID-19 pandemic, providing an opportunity for domestic companies to explore possibilities for entering overseas procurement markets. The PPS will spare no effort to support domestic companies in entering overseas procurement markets and concluding actual export contracts in response to the rapidly changing external trade environment, including the reorganization of the global trade order.”

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