PR Newswire

BSR Korea’s Support Program Acquires $16M in the Global Public Procurement Market

– BSR Korea contributes to COVID-19 measures with support projects for fostering major regional industries in Daejeon and assisting K-Quarantine SMEs to enter into overseas market

SEOUL, South Korea, April 12, 2021 /PRNewswire/ — BSR Korea (CEO: Baek Seung-Rak) is a government-entrusted agency that runs two national projects this year: Fostering Major Regional Industries in Daejeon held by the Ministry of SMEs and Startups (MSS) and Marketing Support for Companies Specialized in Bio-functional Material in Global Market held by the Public Procurement Service. They are working on a listing of domestic SMEs and marketing activities for overseas public procurement, in relation to sanitization supplies for international organizations, the US federal government, and other EU and ASEAN overseas procurement markets.

BSR Korea

BSR Korea

Those two projects controlled by BSR Korea are assessed as policies that have successfully supported domestic SMEs in advancing into the overseas public procurement sector with K-Quarantine as a new brand representing South Korea.

The United States accounts for the largest portion of the overseas procurement market in recent years they are required to reestablish new demands for the US federal and international organizations in accordance with the TAA Compliance and the Chinese exclusion policy; accordingly, the demand for Korean products is drastically increasing.

To deal with the rapidly changing circumstances, BSR Korea has established a marketing policy in overseas public procurement for short-term emergency supplies and mid- and long-term stockpiles from October 2020 to select respectful SMEs.

They have achieved contracts and exports of about $13.6M, including nitrile gloves ($12 million), protective clothing ($900,000), non-contact thermometers ($350,000), face shields ($320,000) and quarantine goggles ($20,000) in public procurement markets, such as international organizations (UN-affiliated and related organizations), Federal Procurement Service (GSA), American Hospital Association (AHA), Equal Employment Opportunity Commission, and the US state government. In 2021, it is expected to achieve additional export of more than 10 million dollars in the public procurement sector as SMEs have successfully expanded business in new markets: U.S., Southeast Asian and international organizations.

At the end of 2020, as the export support programs for sustainable procurement is established due to the rapid response of BSR Korea, SMEs have a capacity of supplying 9M to 10M pieces of nitrile gloves (short-term supply) per month on average, and also are expected to participate in quarterly purchase programs of 50M, 100M and even 500M. Moreover, the Korean standard is likely to be employed in masks as TAA compliance countries are looking for alternative items to deal with supply shortage and anti-3M monopoly.

We need a systemic framework, said the executive officer of BSR Korea, that enables more urgent and immediate information collection and entry into the procurement market via the network based on the collected information. Existing support protocols can no longer yield good results. With this support program, we will build up a procurement network based on extensive analysis for marketing practice, in order to immediately respond to the diversified overseas procurement markets in the disease-prevention industry.

We have extensive experience in preparing short- and medium-term frameworks, such as planning for emergency supplies and mid- to long-term stockpile purchases for the US federal government, state governments and major prime vendors, he also said. BSR Korea has established the most optimized strategy to support SMEs in the overseas market. SME’s expansion into another region is expected in 2021 with our support; and we will construct an integrated and systematic entry support platform.

David H. Hwang (Director)

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