Agency signs MOU with Korea Health Industry Development Institute to boost overseas procurement support
The Public Procurement Service and the Korea Health Industry Development Institute are joining forces to support overseas demonstration of innovative products and identify foreign buyers in the health industry sector.
The two agencies signed an MOU Monday at the Government Daejeon Complex to support Korean health industry companies in entering overseas procurement markets.
The agreement aims to expand opportunities in the health sector — including pharmaceuticals, vaccines and medical devices — which account for a significant share of international organization procurement markets.
Ahead of the signing, the two agencies jointly dispatched a market development mission of 23 domestic companies to Bangkok, Thailand, from Sept. 14 to 18, together with the Korea Evaluation Institute of Industrial Technology (KEIT) and the Korea Fire Industry Technology Institute. At a local export consultation event, the delegation held 138 meetings with 53 Thai buyers and signed 15 MOUs worth a combined $4.23 million.
The mission also visited the Asia regional offices of the UN Industrial Development Organization, UNICEF, the UN Refugee Agency and the UN Development Programme. Participating companies introduced their products to local officials and explored the potential for entering international organization procurement markets through briefings and meetings on UN procurement systems.
Key areas of cooperation under the MOU include linking and jointly pursuing export support projects, sharing overseas market trends and procurement demand and tender information from international organizations and foreign governments, supporting overseas demonstration and market expansion of innovative health industry products, identifying and connecting companies with local public institutions, international organizations and foreign buyers, and promoting companies and products while publicizing each agency's support programs.
The two agencies will share procurement demand and tender information from international organizations and overseas public institutions, and connect domestic companies with foreign buyers through export consultation events and market development missions. They also agreed to cooperate on overseas demonstration and market expansion to allow innovative health industry products to verify their performance and usability in local markets.
At the Global Public Procurement Marketplace (GPPM) export consultation event scheduled for November, health industry companies will be given priority placement in the showcase to broaden product promotion opportunities. The agencies also plan to publicize their support programs through joint export consultation events and briefings.
Public Procurement Service Commissioner Baek Seung-bo said the health industry is a sector where overseas procurement markets show strong preference for Korean products and where competitiveness is particularly high. "We will provide comprehensive support for outstanding health companies to enter overseas procurement markets by leveraging the synergy between the Korea Health Industry Development Institute's and the Public Procurement Service's sector-specific expertise and overseas networks," he said.
kwonhl@heraldcorp.com
