KOTRA Announces Project Call for Private Sector to Propose Advisory Cooperation Countries

Application Submission for Private Companies Until April

The Korea Trade-Investment Promotion Agency (KOTRA) announced on the 9th that it will hold a public contest for private proposals for the Economic Development Experience Sharing Project (KSP) in cooperation with the Ministry of Economy and Finance until next month. KSP refers to providing customized policy advice to support the economic and social development of partner countries based on South Korea's domestic economic development experience.

KOTRA Headquarters View / Photo by KOTRA

Last year, the Ministry of Economy and Finance introduced the KSP private project proposal system for the first time. This system allows private companies with strengths in specific fields to directly propose development cooperation advisory topics to foreign governments. It was established to enhance the effectiveness of policy recommendations and support the overseas expansion of private companies.

KOTRA explained, "When private companies provide policy advice directly, they can resolve difficulties faced by domestic companies in partner countries," adding, "It can also help these companies win projects ordered by partner countries."

KOTRA stated that it will evaluate the submitted applications focusing on the possibility of linking to follow-up projects. On the 22nd, it plans to explain the detailed project contents to interested companies at the Overseas Contract Negotiation Council Demand Forum.

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