Public Procurement Service (PPS) Designates 55 G-PASS Companies... Opening the Door to Overseas Public Procurement

[Financial News] The Public Procurement Service (PPS) has designated 55 promising companies for overseas procurement market entry (G-PASS) to support excellent domestic procurement companies in entering overseas public markets.
The Public Procurement Service (PPS) held a designation certificate awarding ceremony at the Seoul Regional Office of Public Procurement Service on the 9th. The third-quarter designations included 34 new companies and 21 re-designated companies, with a pass rate of 52% for the new screening. Among the newly designated companies were Buyoung Industry Co., Ltd., which exports PE tarpaulins to the United Nations (UN) and others, and Energen, which supplied diesel generators for an Official Development Assistance (ODA) project in Ukraine.
Designated companies are provided with benefits such as customized vouchers, overseas buyer consultations, and the dispatch of market exploration delegations. In particular, newly designated companies will receive intensive support starting next year, including training to strengthen overseas procurement capabilities, buyer matching, and the resolution of export difficulties. The Public Procurement Service (PPS) plans to expand the designation of artificial intelligence (AI) technology companies and regional enterprises in the future.
Baek Seung-bo, Administrator of the Public Procurement Service (PPS), stated, "To diversify export markets, we will systematically support technologically advanced procurement companies so that they can gain competitiveness in overseas public procurement markets."
Meanwhile, the global public procurement market, estimated at approximately $10 trillion annually, offers high payment stability, but entry barriers for small and medium-sized enterprises (SMEs) have been high due to stringent certification procedures in each country. The G-PASS system serves as a ladder to lower the threshold for overseas public institutions, based on the credibility of the government.

[email protected] Kim Won-jun Reporter