Public Institutions to Double Purchase Amounts from 'Small and Medium Enterprise Technology Market'

Expanded to Over 500 Billion This Year

The government has decided to more than double the public institution purchase amount for the open platform 'Small and Medium Business Technology Market,' which helps small and medium enterprises (SMEs) bring their technologies to market this year.

On the 18th, the Ministry of Economy and Finance held a policy briefing session on the Technology Market jointly with the operating organizations of the Technology Market and announced this plan.

At the event, Kim Yoonsang, the 2nd Vice Minister of the Ministry of Economy and Finance, said in his congratulatory remarks, "To realize a dynamic economy, we will create an innovative ecosystem through the Technology Market and provide a ladder of opportunity such as expanding sales channels for SMEs with excellent technologies, thereby creating quality jobs."

Kim Yunsang, 2nd Vice Minister of the Ministry of Economy and Finance.

The government integrated the Technology Market platforms, which were separately operated in three sectors: social overhead capital facilities (SOC), energy, and information and communication technology (ICT), into the Small and Medium Business Technology Market. It also expanded the applicable fields by preparing standard guidelines to allow public institutions without a technology registration review system to use the Technology Market.

Based on these institutional reforms, this year, the purchase performance will be significantly expanded to more than 500 billion KRW, more than double last year's 220.6 billion KRW.

To expand purchase performance, the number of public institutions participating in the Technology Market, currently 62, will be gradually increased, and participation from local governments and local public enterprises will also be encouraged. To induce active participation from public institutions, the Technology Market support performance indicators were specified in this year's management evaluation manual, and the scoring scale was also raised.

At the briefing session, 52 excellent SMEs certified through the Technology Market review set up corporate promotion booths and conducted 420 purchase consultations and sales targeting public institution purchasing officers.