Public Procurement Service Achieves Record High with 26 Trillion Won in Nara Market Sales This Year

The Public Procurement Service (PPS) recorded sales of 26 trillion won on the Nara Market comprehensive shopping mall this year. This is the largest scale ever, and it is evaluated to have played a significant role in expanding sales channels and supporting the growth of small and medium procurement companies.

According to the PPS on the 29th, Nara Market is a public procurement online shopping mall where the PPS registers products after concluding unit price contracts, and demand institutions select preferred products and place orders.

Comprehensive Shopping Mall Sales Performance (Unit: 100 million KRW). Provided by Public Procurement Service

Since its launch in 2006, this system has the advantage of reducing procedures and time such as bidding and contracting, allowing demand institutions to quickly purchase necessary products and making it easier for procurement companies to enter the public procurement market.

As of the end of last month, about 14,000 companies were registered on Nara Market, with about 970,000 products, achieving sales performance of 24 trillion won. The PPS expects that by adding sales performance until the end of the year, it will be possible to achieve a record high of 26 trillion won.

This is more than 1.8 times the sales performance in 2013 (14 trillion won).

To broaden the range of choices for consumers, the PPS held seasonal and situational themed exhibitions on the comprehensive shopping mall this year. In particular, last summer, to quickly support flood damage prevention and recovery, a 'National Safety Products Exhibition' focused on 26 products including drainage plates was held, achieving sales of 265.9 billion won.

Kwon Hyuk-jae, Director of the Purchasing Business Bureau at the PPS, said, “Nara Market plays a role in procuring goods needed by public institutions quickly and conveniently,” and added, “The PPS will continue to spare no effort to support small and medium procurement companies to grow by having their technology and quality competitiveness recognized through active regulatory innovation and system improvement.”

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