Government to Promote Enactment of Public Procurement Act..."Reorganizing Fragmented Legal System"

Choi Sang-mok, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, is speaking about regulatory innovation in the new industry sector at the Emergency Economic Ministers' Meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 13th. Photo by Jo Yong-jun jun21@

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The government is promoting the enactment of the Public Procurement Act, which will oversee matters related to procurement tasks and strategies, including the basic principles of public sector procurement.

On the 2nd, the Ministry of Economy and Finance held the 5th Procurement Policy Deliberation Committee meeting chaired by Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok to discuss plans for the promotion of the "Act on Public Procurement" (tentative name).

The Ministry of Economy and Finance plans to enact the Act on Public Procurement to specify the basic principles that public procurement entities such as the government, local governments, and public institutions must comply with.

It will also detail responsibilities related to the annual establishment of the comprehensive public procurement plan and the strategic operation of public procurement, including the stable maintenance of supply chains.

According to the Ministry of Economy and Finance, the current procurement legal system is fragmented into several individual laws, and there is no general law that oversees the entire system.

Deputy Prime Minister Choi said, "Public procurement, which has grown into a massive market exceeding 200 trillion won annually, plays a key policy role supporting various policy goals such as technological innovation, supply chain stability, and support for vulnerable sectors," adding, "Once the Public Procurement Act is established, systematic and comprehensive management of public procurement will be possible, supporting the dynamic growth of the national economy."

On the same day, the introduction of a procurement special case performance management system was also discussed to systematically manage the outcomes of the procurement special case system. The procurement special case system is a policy that mandates or prioritizes the purchase of products from socially disadvantaged enterprises and eco-friendly products to realize social value by investing public funds.

It was also decided to establish the 2024 basic plan for pilot purchases of innovative products, which will unify the pilot purchase projects for innovative products previously operated by each ministry under the Public Procurement Service.

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