Ministry of SMEs and Startups: "Public Institutions Should Purchase SME Products"... Regional Briefings

Public Institution Procurement System Briefing Held
Targeting 2,500 Officials in 12 Regions

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] The Ministry of SMEs and Startups announced on the 3rd that it will begin a series of briefing sessions to encourage public institutions to purchase products from small and medium-sized enterprises (SMEs).

Heads of public institutions are required to notify their purchase plans, including the target purchase ratio of SME products, and the previous year's purchase performance by the end of January, in accordance with the Act on Support for Small and Medium Enterprises' Market Expansion.

The number of institutions required to report their SME product purchase plans and performance increased from 282 in 2011 to 740 in 2014. Last year, the number gradually rose to 856.

Accordingly, the Ministry of SMEs and Startups will hold briefing sessions on the public institution purchasing system for about 2,500 purchasing officers from public institutions in 12 regions nationwide from the 6th to the 13th. The non-face-to-face briefing session will be held at 9:30 a.m. on the 12th.

Lee Hee-jung, Director of the Market Expansion Policy Division at the Ministry of SMEs and Startups, said, "We hope that public institutions will take the lead in purchasing SME products to support small and venture businesses struggling due to the global economic crisis."