Public Procurement Service helps exporters seeking opportunities overseas

The Korea Times

The Korea Times

Finance

Sun, December 3, 2023 | 19:20

Economy

Public Procurement Service helps exporters seeking opportunities overseas

Posted : 2023-07-20 17:22

Updated : 2023-07-20 19:08

Public Procurement Service (PPS) Administrator Kim Yoon-sang, center, examines products at RexGen, a manufacturing firm in Anyang, Gyeonggi Province, Thursday. Courtesy of PPS

By Yoon Ja-young

The Public Procurement Service (PPS) is strengthening support for domestic businesses to enter overseas procurement markets and expand exports, the agency announced Thursday.

PPS Administrator Kim Yoon-sang visited RexGen, a manufacturing firm located in Anyang, Gyeonggi Province, Thursday, to listen to their difficulties and regulatory issues regarding exports.

RexGen is a manufacturer of an AI-based smart traffic control system. Some of its products have received "Innovative Product" as well as "Excellent Government Procurement Product" designations from the government for their technologies and quality.

The tech firm is now actively venturing into overseas markets, having secured a contract worth $16 million at the export consultation meeting of the Korea Public Procurement Expo 2023 held in April.

Oh Young-joon, the CEO of RexGen, suggested that the PPS further assist exports by supporting companies in securing overseas validation and strengthening references for their innovative products, by expanding the scope of the pilot purchase system beyond domestic boundaries and into international procurement markets.

Additionally, he proposed initiatives such as inviting foreign buyers and organizing export consultation meetings to aid in companies' expansion into overseas procurement markets.

Kim stated that supporting businesses with their efforts for exports can help boost the economy, as the government is focusing on enhancing economic vitality and national policies are being pursued with an emphasis on elevating the nation's economic strength.

He added that the PPS will listen attentively to suppliers and seek supportive measures to facilitate their entry into overseas procurement markets.

yjy@koreatimes.co.kr

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