Busan Transportation Corporation Rapidly Executes 1.4264 Trillion KRW in First Half... Largest Ever Scale

Over 95% of Orders to Be Placed in the First Half to Revitalize the Economy and Improve Livelihoods
Expansion of Local Companies' Contract Opportunities Through Priority Local Restricted Bidding

Busan Transportation Corporation (President Lee Byung-jin) has confirmed a plan to place orders for goods, construction, and services totaling a record 1.4264 trillion KRW in the first half of this year to support the government's and Busan city's rapid fiscal execution, and has disclosed this plan through the corporation's and Public Procurement Service's Nara Marketplace websites.

In 2025, the corporation's number of orders will be 394 in total, including the construction of the Hadan~Noksan Line, which is an 8.2% decrease from last year's 429 orders. However, the order amount increased by 133% compared to last year's 612.1 billion KRW. Among these, the corporation will promote rapid execution in the first half of the year for 347 orders (88% of the total number) amounting to 1.4264 trillion KRW (95% of the total amount).

Of these, goods account for 200 orders worth 74.4 billion KRW, construction 93 orders worth 1.3135 trillion KRW, and services 101 orders worth 112.1 billion KRW.

The corporation plans to actively support local companies in winning contracts within the scope permitted by the Local Contract Act to promote mutual growth with local businesses for the relevant orders. For specialized, electrical, firefighting, and communication construction under 1 billion KRW and goods and services under 710 million KRW, local restricted bidding will be prioritized. For specialized, electrical, firefighting, and communication construction over 1 billion KRW, the local mandatory joint subcontracting system will also be operated during bidding to ensure that local companies participate in at least 49% of the construction.

Additionally, in the first half of the year, special measures will be applied to allow contracted companies to secure liquidity early. Periods such as inspection (from 14 to 7 days) and payment (from 5 to 3 days) will be significantly shortened to help contracted companies receive payments quickly, and contract deposits and construction performance bonds will be reduced by 50% to help reduce the incidental costs of contract fulfillment for contracted companies.

Last year, Busan Transportation Corporation also contributed to revitalizing the local economy by signing contracts worth 185.4 billion KRW with local companies.

Lee Byung-jin, President of Busan Transportation Corporation, said, “We will proceed with orders through fair and transparent procedures such as competitive bidding and increase participation of excellent local companies with competitiveness to join efforts in overcoming the slowdown of the local economy. We will take the lead as a representative local public enterprise to ensure the local economy stabilizes within the first half of the year by promoting rapid execution on an unprecedented scale.”

Busan Transportation Corporation.

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