Public Procurement Service: "53.8 Trillion Won Out of 78.4 Trillion Won Government Procurement Ordered in First Half"

The Public Procurement Service announced on the 17th that it plans to place orders worth 53.7789 trillion KRW (68.6% of the total) in the first half of this year out of the total procurement amount of 78.4452 trillion KRW for goods, services, and construction.

The total procurement amount recorded this year is about 3 trillion KRW (3.7%) less than last year’s 81.4 trillion KRW. This is estimated to be due to a decrease in large-scale construction projects.

Provided by Public Procurement Service

By sector, the procurement amounts are 9.4471 trillion KRW for goods, 18.7213 trillion KRW for services, and 50.2767 trillion KRW for construction. Compared to last year, goods increased by 3.2964 trillion KRW (53.6%), and services increased by 5.3953 trillion KRW (28.8%). However, construction decreased by 11.7027 trillion KRW (18.9%).

The scale of central procurement executed through the Public Procurement Service is 22.5195 trillion KRW, while 55.9255 trillion KRW is independently ordered by local governments and public institutions. By institution, the procurement amounts are 11.4062 trillion KRW for national agencies, 26.5143 trillion KRW for local governments, and 40.5247 trillion KRW for public institutions.

The Public Procurement Service plans to place early orders in the first half of this year for 6.4 trillion KRW (68.2% of the total) in goods, 15.6 trillion KRW (83.6%) in services, and 31.6 trillion KRW (63.0%) in construction.

In particular, for procurement projects ordered in the first half, the procurement fee will be reduced by up to 20% to actively support rapid fiscal execution. The procurement fee will be reduced by 20% from January to April and by 10% from May to June.

Details such as the names of major public sector goods, services, and construction projects planned for ordering, ordering agencies, ordering schedules, budget amounts, and contract methods can be found on the Nara Marketplace website.

Lim Gi-geun, Administrator of the Public Procurement Service, said, “The Public Procurement Service will ensure that rapid execution at an unprecedented scale and speed is carried out in the first half of this year so that domestic demand recovers quickly and the livelihood economy stabilizes.”