SEOUL, KOREA- The Integrated Korea Online E-Procurement System, or KONEPS, hitherto reserved for government agencies only, will be open to public including private companies and individuals. The Public Procurement Service said on September 30 that it would open its online procurement system to all comers from October 1. For example, large residential complex management offices or farm cooperatives can use the system to put up public bidding notices for goods and services.

 

Beginning with the latest measure, the Public Procurement Service will gradually open the system to non-profit organizations by 2014, small- and medium-sized enterprises by 2015, and finally to all private-sector participants by 2016.

 

The government procurement agency added the opening of KONEPS to the general public will allow them to save up to 8 trillion won in transaction cost. As the information on bidding and final prices will be available on a real-time basis, private-sector participants can compare prices for similar goods, services, and construction projects.