Number of companies designated G-PASS (Public Procurement Services)
Certified companies – called Government Performance Assured Companies (G-PASS) – recorded $1.25 billion in actual exports last year, a 69.1% increase from $740 million in 2020, according to PPS authorities. This far exceeds South Korea’s average export growth rate, which stood at 25.7% for the same period.
G-PASS companies are labeled by the PPS as having great potential for expansion into overseas markets based on their domestic performance.
According to the agency, there are currently 1,056 companies that have received G-PASS status. Their two main export partners were the United States and Vietnam, which accounted for 20.3% and 13.2% of the companies’ exports respectively.
The PPS plans to help these companies further this year by providing them with information on overseas tenders and assisting them in the training of professional manpower. The PPS also plans to help companies find foreign buyers by coordinating with the Korea Trade Promotion Corporation, the Korean Ministry of Foreign Affairs and the Korea Public Procurement Expo.
The procurement agency will also offer a two-year strategic support program to outstanding national procurement companies. The program includes strengthening export capacity and expanding supply contracts with offshore supply companies. It plans to offer tender writing programs to companies wishing to enter offshore procurement markets directly.
By Lee Seung-ku (firstname.lastname@example.org)