Amid Korea’s robust economic expansion, the Korean public sector procurement market surged to a record of around 210 trillion Korean Won (approximately USD 150 billion) last year, marking a notable 30% increase since 2019. This growth underscores Korea’s strategic economic trajectory, fueled by export-oriented policies and importation of advanced technologies. As the Korean public sector ramps up its investment in sophisticated tools to enhance Korea’s technological edge, foreign suppliers are increasingly drawn to lucrative opportunities within Korea’s public sector procurement market. However, whilst these opportunities with the Korean public sector are significant, they come with certain challenges requiring vigilance particularly for foreign companies.

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