Value context and insight. lkm@koreatimes.co.kr
219 Korean firms seek to enter global procurement market
A TV screen shows Public Procurement Service (PPS) Administrator Kim Chung-woo speak at the beginning of a public procurement fair held online, Nov. 23. Courtesy of PPS
By Lee Kyung-min
Public Procurement Service (PPS) Administrator Kim Chung-woo
By Lee Kyung-min
Over 200 Korean firms sought procurement opportunities around the world at a public procurement fair held online, organizers of the event said Monday.
Local manufacturers of personal protective equipment (PPE) including facial masks were able to give presentations about their firms and their products with the authorities from bodies such as the United Nations (U.N.) and World Health Organization (WHO) as well as interested parties from the U.S., Canada and Ethiopia.
Apart from virus containment-related products, the demand for which have soared amid the COVID-19 pandemic, other items presented included construction equipment needed for road safety, electronic goods needed for live broadcasting and malaria treatment.
Among the participants were the U.S. General Services Administration (GSA), an independent agency that helps manage and support the basic functioning of federal agencies, and Public Services and Procurement Canada (PSPC), a department of the Government of Canada with responsibility for the government's internal servicing and administration.
Jointly organized by the Public Procurement Service (PPS), the Ministry of Foreign Affairs and the Korea Trade-Investment Promotion Agency (KOTRA), the event ran from Nov. 23 through Dec. 4. Separate from the 10-day event, a two-day event was held online to give an overview of the overseas procurement market.
The annual fair was organized to help local small and medium-sized enterprises (SMEs) gain a competitive edge in entering the international procurement market.
Fifty-three overseas buyers from various countries provided consulting services on 250 projects.
Among the participants were representatives from Poland, Vietnam and Kenya, key countries Korean firms view as untapped markets.
Relevant working-level officials from those countries held sessions to help local firms understand and map out strategies to enter these markets during the event.
Authorities that showed keen interest included the U.N. Procurement Division (UNPD) and the U.N. Office for Project Services (UNOPS).
“The close cooperation among Korean government organizations that have extensive overseas networks and professional expertise will be able to create synergy to better help local firms expand their business overseas,” PPS Administrator Kim Chung-woo said.
“The pandemic has led to a substantial drop in the sales figures of many local firms, but the competitive edge of high-quality Korean-made PPE goods are providing a growth momentum for many other export firms. This will translate into a greater opportunity for many local firms to expand their presence overseas,” he added.
In a similar event held in November 2019, the PPS drew a combined $12.35 million (13.36 billion won) in global procurement deals signed by local firms, adding to the previous success in April 2019 when it drew $12.64 million in similar deals at a separate PPS-organized event.
At last year's event, a special workshop was held to help local businesses enter bids for U.N.-commissioned procurement projects worth about 20 trillion won.
Real-time information on the bidding status is available at pps.go.kr/gpass