Korea Federation of SMEs Holds Briefing Session on "Association-Recommended Purchasing System"

Association-Recommended Private Contract System
Priority Purchasing System for Joint Business Products of Small Enterprises
Efforts to Promote Activation

The Korea Federation of SMEs announced on September 17 that it held a briefing session on the "Association-Recommended Purchasing System" at its headquarters in Yeouido, Seoul.

This session was organized to help SME cooperatives better understand the "Association-Recommended Private Contract System" and the "Priority Purchasing System for Joint Business Products of Small Enterprises," both of which are part of the association-recommended purchasing system, and to promote the activation of these systems.

During the briefing, participants were provided with guidance on the two systems and how to utilize them, as well as examples of best practices in their application.

Yang Chanhoe, Head of the Innovation Growth Division at the Korea Federation of SMEs, stated, "The association-recommended purchasing systems are based on the Sales Support Act and are designed to support the growth of small businesses and self-employed individuals through competition." He added, "By utilizing these systems, quality is assured and appropriate companies can be selected through recommendations from relevant associations, which greatly reduces the cost of searching for suppliers and administrative burdens. Therefore, it is necessary for the government, public institutions, and local governments to actively make use of these systems."