KOPPEX2023, Platform for 33.4mn Export Contracts

KOPPEX One-on-One Business Meetings joined by overseas buyers – a stepping stone for Korean SMEs to expand their sales channels

□ Export contracts worth 33.4mn USD were concluded at the Korea Public Procurement Expo 2023 held between April 26 and April 28, working as an opportunity for confirming competitiveness of outstanding Korean suppliers. 

▶ PPS Vice Administrator Sang-yun Lee delivered his remarks at KOPPEX2023 where export contracts worth 33.4mn USD were made.

□ Compared to last year’s records of 4.66mn USD, this year saw 7-fold increase and the number of importing nations increased from 5 to 7, which signifies diversification of export destinations.

  ○ 14 products including a CCTV system recognizing both front and rear license plates were selected by foreign buyers for their outstanding competitiveness.

  ○ In particular, 2 Innovative Companies designated and systematically supported under PPS’ Innovation Procurement system ended up with huge export contracts worth 20mn USD, which indicates the Innovation Procurement system has worked as a reliable buttress for domestic suppliers.

□ This year’s procurement expo was the first face-to-face event after the outbreak of the Covid-19 pandemic, attended by 210 from Korean suppliers and 94 foreign buyers. Out of them 10 domestic suppliers and 17 foreign buyers including from the U.S. signed up for transaction contracts.

□ PPS will continue to provide businesses with opportunities of exchange such as one-on-one business meetings at the expo so that more of the small but strong Korean companies can join overseas markets

□ “The fruitful outcomes made by Korean exporters demonstrated their strength to overcome polycrisis in global trade.” PPS Vice Administrator Lee said.

   ○ He added, “PPS will continue to support Korean suppliers wishing to making inroads into foreign markets so that they can expand their sales channels through export opportunities.”