[Asia Economy Reporter Hyungsoo Park] Eone Diagnomics (EDGC) is showing strong performance. The news that it has completed registration with the SAM (System for Award Management), a mandatory requirement for entering the U.S. federal government procurement market, thereby obtaining eligibility for bidding and supply, appears to have influenced its stock price.
As of 11:23 AM on the 7th, EDGC is trading at 4,925 KRW, up 16.57% from the previous trading day.
SAM, managed by the U.S. General Services Administration, is an important database related to public procurement contracts. The U.S. government procurement market is complex in terms of regulations and procedures related to government procurement, in addition to corporate credibility and product excellence, making Korean companies account for only 0.02% of the main contract base.
The U.S. General Services Administration is considered a "blue ocean" as the world's largest single buyer, offering high margins and the possibility of long-term large-scale transactions. EDGC is also promoting the supply of stockpiled materials related to K-quarantine products, including COVID-19 rapid antigen and antibody test kits, to the U.S. federal government for hospitals and other medical markets.
Following SAM registration, EDGC is simultaneously proceeding with registration as a supplier for the U.S. Department of Veterans Affairs medical supplies and equipment procurement (FSS) and the U.S. Defense Logistics Agency (DLA). The DLA is the national combat logistics support agency, managing the global defense supply chain for the U.S. military combat commands, other federal, state, and local agencies, from raw materials to end-user disposal, as well as partners and allies.
Based on its SAM registration, EDGC plans to actively enter the U.S. federal government procurement market with K-quarantine and various medical device markets.
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