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These are the press releases (attached files) and media reports (attached below) posted in the innovation procurement comprehensive portal of the Public Procurement Service.

[Financial News] An online platform has been greatly expanded in which public institutions can evaluate and purchase SME cooperation technologies and products only with technology without restrictions such as delivery performance.

The Ministry of Strategy and Finance announced that it prepared a "plan to build an integrated technology market for public institutions" based on the operational performance of the "SOC technology market" established in June last year, reported it to the Public Institutions Steering Committee on the 24th, and distributed it to a total of 340 public institutions on the 25th.

The integrated technology market system for public institutions is an online integrated platform where public institutions collaborate to evaluate and purchase innovative technologies and products of SMEs only with technology. If experts deliberate and certify SME technologies and products and register them in the integrated technology market, public institutions can purchase them without restrictions such as delivery performance.

The system was created to provide opportunities for small and medium-sized enterprises with innovative technology led by public institutions to participate in the public procurement market worth 135 trillion won (48.9 trillion won as of 2019).

First, the integrated technology market of public institutions was spread to all fields such as energy and ICT. This year, it opened an "energy technology market" centered on public energy institutions such as KEPCO, and in 2021, it spread to ICT, education, and training fields to encourage public institutions to participate.

The "SOC Technology Market" will also push for additional participation from the Korea Water Resources Corporation and the Environment Corporation, which perform similar tasks other than 10 institutions, including LH and Korea Expressway Corporation.

For the stable operation of the system, the basis for the establishment of an integrated technology market and the operation regulations for each technology market are also prepared.

It has also expanded its market for integrated technology market certified products. If SME products certified by the integrated technology market of public institutions from October are designated as innovative products after public evaluation by the Public Procurement Policy Council, they will be subject to private contracts. Innovative products were posted on the Public Procurement Service's "Innovation Market" and were posted by the government and local governments. Public institutions and local public enterprises can also purchase them voluntarily.

In order to support the growth of SMEs and boost the participation of public institutions, small and medium-sized companies with integrated technology market certification technology and products will be given preferential guarantees from 2021 along with support such as commercialization funds. Comprehensive support for innovative growth will be provided through customized consulting for overseas expansion and disclosure of patents held by public institutions.

The Ministry of Economy and Finance will also reflect the performance of using the integrated technology market in public institutions and encourage active participation by supporting organizations and manpower. It will also push for new evaluation indicators to induce public institutions to purchase certified products, including the purchase performance of integrated technology market certified products, and to continuously reflect the performance of support organizations such as participating institutions and financial support in management evaluation.

The Ministry of Economy and Finance said, "We plan to continue to make efforts to settle and improve the system by actively supporting innovative growth of small and medium-sized enterprises and monitoring and supplementing operational problems."

onsunn@fnnews.com Reporter Oh Eunsun.