Korean Procurement Agency: Prolonged high oil prices, procurement market stabilization measures extended until the end of the year
智通财经2026/09/28 02:11- According to Yonhap News Agency, on the 28th, the Public Procurement Service of Korea announced that, due to the prolonged situation of high oil prices caused by the Middle East war, the stabilization measures for the procurement market regarding items affected by high oil prices, originally set to expire at the end of this month, will be extended until the end of the year.
- The items affected include asphalt concrete, which is highly impacted by oil prices, as well as pay-as-you-throw garbage bags closely related to people's daily lives.
- In March this year, the Public Procurement Service of Korea implemented relevant measures for these goods, exempting multiple suppliers from the second stage of competitive bidding to ensure quick supply. At the same time, they relaxed the price adjustment conditions, allowing companies to promptly reflect increases in raw material costs in product prices.
- Baek Ho-seong, the Administrator of the Public Procurement Service of Korea, stated that, despite uncertainties in both internal and external environments, they will ensure the stable operation of the procurement market through proactive administration so that companies can focus on their business activities with confidence.
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