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Procurement agency partners with KOTRA for SMEs’ overseas advancement

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By Yi Whan-woo
  • Published KST
Government Complex Daejeon, where the Public Procurement Service headquarters is located, is seen in this updated photo. Yonhap

Government Complex Daejeon, where the Public Procurement Service headquarters is located, is seen in this updated photo. Yonhap

The Public Procurement Service (PPS) has partnered with the Korea Trade-Investment Promotion Agency (KOTRA) to boost Korean businesses’ expansion into overseas procurement markets, PPS said Wednesday.

It said a joint seminar was held at The Ambassador Seoul — A Pullman Hotel, attracting more than 60 small and medium-sized enterprises (SMEs) to explore opportunities in around 190 countries.

The seminar took place as part of a cross-ministry effort to lower barriers and enhance cooperation for SMEs, which have relatively fewer opportunities than larger companies.

PPS operates under the Ministry of Economy and Finance and is in charge of procuring goods and services for all government agencies and state-run organizations.

KOTRA is a state-run company responsible for promoting trade and investment under the Ministry of Trade, Industry and Energy.

The seminar was a follow-up event to last year’s PPS-hosted Global Public Procurement Marketplace, the nation’s largest overseas procurement consultation fair.

“The seminar is expected to encourage more Korean companies to enter overseas procurement markets and provide information on related support programs,” PPS said.

Among the programs highlighted were G-PASS, a PPS-certified designation for promising and capable SMEs aiming to enter the international market, and financial support of up to 40 million won ($27,000) for each newly G-PASS-labeled company.

PPS also explained the key details of each program, the application procedures and the schedule for recruiting participating companies.

In addition, officials from the PPS office in Beijing and the U.N.-affiliated International Trade Centre (ITC) shared practical knowledge on entering overseas markets, including guidance on the Chinese procurement system and using the ITC system to gather bidding information from other countries.

KOTRA explained how SMEs can receive support through its overseas branches and global logistics programs.