PPS-certified companies’ overseas shipments grow despite COVID-19

Korean small- and medium-sized companies certified by the governmental Public Procurement Service for their technological aptitude and product quality saw their overseas shipments grow despite the ongoing COVID-19 pandemic.

The certified companies -- called Government Performance Assured (G-PASS) companies -- have recorded $1.25 billion in actual exports last year, a 69.1 percent 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 percent for the same period.

G-PASS companies are labeled by the PPS as having large potential in expanding to offshore markets based on their domestic performance.

According to the agency, there are currently 1,056 enterprises that have received G-PASS status. Their two largest export partners were the United States and Vietnam, who account for 20.3 percent and 13.2 percent of the companies’ exports, respectively. 

The PPS plans to further assist these companies this year by providing them with offshore bidding information and aiding them in professional manpower training. The PPS also plans to assist companies find foreign buyers by coordinating with the Korea Trade Promotion Corporation, Korea’s Foreign Ministry and the Korea Public Procurement Expo.

The procurement agency will also offer a strategic two-year support package to outstanding domestic procurement enterprises. The package includes strengthening export capacity and expanding supply contracts with offshore procurement firms. It plans to offer bid-proposal drafting programs to firms wishing to directly enter offshore procurement markets.

By Lee Seung-ku (seungku99@heraldcorp.com)