Public Procurement Service Announces 64 Construction Bids Including Busan Ilgwang District Happy Housing Project

Status Data on Regional Restrictions and Mandatory Joint Contracts by Region. Provided by the Public Procurement Service

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Public Procurement Service announced on the 31st that it will conduct bids for 64 construction projects worth approximately 259.2 billion KRW, including the Busan Urban Corporation's demand for the 'Ilgwang District Happy Housing Construction Project,' from the 1st to the 5th of next month.

The bids include 41 projects (64% of the total number of projects), such as Daejeon City's demand for the 'Seodaejeon IC to Dugye 3-ga Road Expansion Project,' which will be subject to regional restriction bids or mandatory regional joint contracts.

Through this, the Public Procurement Service expects that local companies will win contracts worth approximately 109.7 billion KRW based on construction payments.

Among these, regional restriction bids, in which only local companies participate, are expected to cover 26 projects worth 23.1 billion KRW, and mandatory regional joint contracts, where local companies must form joint supply bodies to participate, are expected to cover 15 projects worth 182.4 billion KRW (with local companies' participation in joint supply bodies amounting to approximately 86.6 billion KRW).

The order volume by region is highest in Busan at 80.2 billion KRW, followed by Gyeongbuk at 45.9 billion KRW, and Gyeongnam at 30.8 billion KRW. Additionally, a total of 102.3 billion KRW will be ordered in other regions.

The Public Procurement Service will conduct the bid for the Busan Urban Corporation's demand for the 'Ilgwang District Happy Housing Construction Project (worth approximately 80.2 billion KRW)' using the comprehensive evaluation bidding system, and the Ministry of Oceans and Fisheries Pohang Regional Maritime Affairs and Fisheries Office's demand for the 'Pohang Port Dongbin Wharf Reinforcement Project' will be conducted using the comprehensive review bidding system.

Except for these, the remaining projects, each with construction payments under 30 billion KRW, will be bid through comprehensive review (16.8 billion KRW), qualification review (1,230.3 billion KRW), and negotiated contracts (1.9 billion KRW), respectively.