KTNET Plus

KTNET attained an award from the Minister of Strategy and Finance

for its contribution to electronic procurement on ‘Procurement Day’

 

 

Korea Trade Network (KTNET) received the Minister of Strategy and Finance Award at the ‘1st Procurement Day’ in recognition of its contribution to the export of the Korea ON-line E- Procurement System (KONEPS).

The Procurement Day event is the first of its kind held this year by the Ministry of Strategy and Finance and the Public Procurement Service to encourage the spread of innovative procurement and raise awareness of transparency and efficiency in public procurement.

KTNET has carried out an operation consignment project of the national comprehensive electronic procurement system (Nara Marketplace – Korea ON-line E-Procurement System) since 2015, starting with a pilot project and spreading project to establish an electronic procurement system in 1997.

The expertise and know-how accumulated by establishing and operating an electronic procurement system were incorporated into a Korean electronic procurement system and exported to Rwanda in 2016 and Jordan in 2017. In 2018, it was exported to Iraq and is about to open in November, and recently a project was launched to build a national electronic procurement system in Cameroon.

In addition, the company provided electronic procurement and operation consulting to Tunisia and Costa Rica through a policy advisory project (KSP-Knowledge Sharing Program: Economic Development Experience Sharing Project) that transmits Korea’s unique experience and know-how of economic development to developing countries. So far, KTNET has exported a total of KRW 16 billion (about USD 14 million) in relation to the electronic procurement system.

The Korean electronic procurement system has been evaluated as a “representative model of electronic procurement” by the United Nations due to its promotion of fairness and transparency through real-time information disclosure and non-contact business processes and allows for significant cost reductions.

KTNET replaced paper tax stamps with electronic tax stamps by linking the “electronic tax stamps system” conferred by the Ministry of Strategy and Finance to Nara Marketplace and helps prevent forgeries and falsifying electronic documents attached to the electronic procurement system, while enhancing transparency.

A company official said, “KTNET has been building a paperless trade environment by building and operating an e-trade and logistics platform for 30 years, while exporting e-trade systems overseas. We will strive in earnest to export the Korean electronic procurement system to various regions using our experience and expert network.”