Public Procurement Service-TIPA, Business Agreement to Support SMEs' Entry into Overseas Procurement Markets

Mutual Cooperation in Expanding G-PASS, Supporting Development of Products Compliant with Overseas Certification Standards, and Discovering Overseas Demand Sources

Kim Jung-woo, Administrator of the Public Procurement Service (left), and Lee Jae-hong, President of the Korea Technology and Information Promotion Agency for SMEs, are posing for a commemorative photo after signing a "Business Agreement to Promote the Overseas Procurement Market Entry of Innovative Procurement Companies" on the 13th.
[Photo by TIPA]

[Asia Economy Reporter Kim Jong-hwa] The Public Procurement Service (PPS) and the Technology and Innovation Promotion Agency for SMEs (TIPA) signed a "Business Agreement to Promote the Overseas Procurement Market Entry of Innovative Procurement Companies" on the 13th, actively supporting small and medium-sized venture companies with technological capabilities to enter overseas procurement markets.

Through this agreement, the two organizations will support overseas procurement market entry by ▲ expanding the designation of innovative procurement companies as PPS 'G-PASS' companies ▲ supporting the development of overseas certification and standard-compliant products ▲ discovering overseas demand sources, and will actively cooperate by jointly hosting events such as the "Dispatch of Innovative Procurement Companies' Overseas Procurement Market Pioneering Team and Export Consultation Meetings" starting in the second half of the year.

'G-PASS' companies refer to small and medium-sized enterprises designated by the PPS as having excellent quality and technological capabilities in procurement goods, to support their entry into overseas procurement markets.

Kim Jung-woo, Administrator of the PPS, said, "We will actively support the innovative procurement system introduced to prevent companies' innovative technologies from being wasted so that it can penetrate overseas procurement markets," adding, "In particular, we will work with TIPA to resolve issues related to certification and standard compliance, which are prerequisites for overseas expansion."

Lee Jae-hong, Director of TIPA, stated, "To enable the rapid recovery and leap of small and medium-sized venture companies struggling with overseas expansion due to the prolonged COVID-19 pandemic, we will proactively respond to the overseas procurement market in cooperation with the PPS," and added, "We will jointly create successful cases of overseas procurement market entry for innovative procurement SMEs by utilizing the overseas networks and overseas procurement market entry support know-how possessed by the PPS."