Amendment to the Act on Procurement Business Including Establishment of the 'Jodal Enterprise Mutual Aid Association'

The "Act on Procurement Business," which includes the establishment of the Procurement Enterprise Mutual Aid Association, has been partially amended and will be enforced from the second half of this year.

According to the Public Procurement Service on the 4th, the amended Procurement Business Act includes provisions on ▲ the establishment of the Procurement Enterprise Mutual Aid Association ▲ designation of the Innovation Product Support Center ▲ expansion of the scope of procurement statistics.

The Procurement Enterprise Mutual Aid Association is scheduled to be operational by the end of this year after completing the establishment procedures.

Once the association begins operations, procurement enterprises that have signed procurement contracts with the Public Procurement Service will be able to receive various services through the association, such as guarantee services with relatively lower commission rates than private guarantee institutions and low-interest financing.

With the legal amendment, the Public Procurement Service will also designate an Innovation Product Support Center that will professionally carry out the discovery of innovative products, domestic and international market support, and policy research.

The scope of public procurement statistics will be expanded to include not only existing contract information but also bidding, payment, and other statistical collection and analysis targets, enabling more effective procurement policy formulation, the Public Procurement Service expects.

To comprehensively aggregate public procurement statistics, the Public Procurement Service plans to link with other public procurement-related systems such as the local finance management system (e-Hojo), thereby increasing the utilization of public procurement data.

Lim Gi-geun, Administrator of the Public Procurement Service, said, “The establishment of the Procurement Enterprise Mutual Aid Association and the designation of the Innovation Product Support Center will bring tangible changes that small and venture innovative enterprises participating in public procurement can feel.”

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