Public Procurement Service Newly Designates 50 Excellent Procurement Products

The Public Procurement Service has newly designated 50 excellent procurement products.

On August 5, the Public Procurement Service announced that it held its second certificate awarding ceremony of the year for excellent procurement products (hereinafter referred to as "excellent products") at the Seoul Regional Public Procurement Service.

The designation of excellent products is conducted four times a year to support public market entry for products from small and venture companies with outstanding technology and performance. Procurement companies whose products are designated as excellent products can supply these products to each institution through private contracts for up to six years.

Last year, excellent products worth 4.6 trillion won were supplied to the public procurement market.

The products that received certificates on this day were selected as excellent products after a review of their technological and quality excellence among 315 products that applied.

Notably, 16 products from companies newly entering the excellent product market accounted for 32.0% of the total designated products. Among these, six products succeeded in entering the public procurement market after reapplying with the same technology, despite having failed four times in last year's review. The number of applications for excellent products will be expanded from the current four times to five times (on a trial basis) by next year.

Baek Seungbo, Deputy Commissioner of the Public Procurement Service, stated, "We will spare no effort in supporting excellent procurement companies, recognized for their technological capabilities and quality excellence, so that they can continue to grow based on the procurement market," and added, "We hope that products designated as excellent products will become trusted by the public and chosen by the market at the same time."

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