Korea Teachers' Credit Union and Local Contract Cost Association Sign Business Agreement for S2B Cost Analysis Service

The Korea Teachers' Credit Union and the Local Contract Cost Association announced on the 27th that they have signed a Memorandum of Understanding (MOU) to promote the use of the cost analysis service of the designated information processing device S2B.

The Local Contract Cost Association is a professional cost calculation service organization consortium established with the approval of the Ministry of the Interior and Safety to facilitate cost calculation and cost review related to local contracts, conduct academic research on cost calculation, and enhance the expertise of its 110 member companies.

This agreement was promoted to improve the convenience of user agencies by providing high-quality cost calculation services through the local contract-related cost calculation professional association on S2B, expand the sales channels of the association's member companies, and enhance the activation of S2B usage.

Among the two organizations, the Local Contract Cost Association will support S2B usage guidance for member companies and promote S2B to local governments and suppliers, while the Korea Teachers' Credit Union promised to provide instructors and educational materials for S2B usage guidance and training for association members and user agencies.

Lee Sang-mok, S2B Business Representative, said, "With this MOU, we expect the satisfaction of user agencies in using S2B related to cost analysis to increase even further."

S2B is a designated information processing device regulated by the Minister of the Interior and Safety for use by all public institutions subject to the Local Contract Act in bidding for construction, services, and manufacturing/purchasing of goods. As of the end of last year, more than 16,700 public institutions nationwide, including educational institutions and local governments, have joined, showing performance of over 910,000 procurement cases and procurement amounts exceeding 1.1855 trillion won in one year.

Additionally, since September last year, the 'Local Contract Platform S2B,' a dedicated procurement system for local governments separate from the electronic procurement system for educational institutions, has been launched, enhancing its status as a specialized designated information processing device for local contracts.