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Procurement expo concludes with $30 mil. in export contracts
Overseas buyers sign a contract at the Korea Public Procurement Expo 2024 at KINTEX in Goyang, Gyeonggi Province, Friday. Courtesy of Public Procurement Service
By Yoon Ja-young
Export contracts worth $30.62 million were concluded through the Export Plaza held in concurrence with the Korea Public Procurement Expo 2024, according to the Public Procurement Service of Korea (PPS).
The public procurement agency announced the achievement made at the business event held at KINTEX in Goyang, Gyeonggi Province, from Wednesday to Saturday.
The number of overseas buyers totaled 90 at the event, participated by over 300 domestic companies — the largest ever in its history — resulting in 750 export consultations and contracts with eight countries, including the United States, Thailand and Brazil.
Specifically, 14 product items, including advanced security camera systems, near-infrared thermal therapy devices, integrated guardrails and sturdy offshore floating structures, were recognized for their excellence, leading to successful entry into overseas procurement markets.
In particular, a supplier recognized for its innovative technologies, also signed a large-scale export contract worth $20 million to supply CCTV systems to the Thai police department.
On the sideline of this business event, the central procurer held tailored consulting sessions for companies on overseas procurement market entry and legal and customs matters to support their overseas sales expansion.
Notably, officials from the Estonian procurement office and a law firm from Poland participated in this event, providing practical information for Korean companies to join Ukrainian reconstruction projects.
"It is very meaningful that the comprehensive support efforts for domestic suppliers' entry into overseas procurement markets have borne fruit," PPS Administrator Lim Ki-keun said.
"We will continue to support the overseas exports of these companies more effectively and expand specialized education for procurement company employees," he said.