Korean SMEs get introduced to U.S. gov’t procurement market

Home > Business > Industry

print dictionary print

Korean SMEs get introduced to U.S. gov’t procurement market

Korea Trade-Investment Promotion Agency (Kotra) held a meeting in Washington, D.C., on Tuesday local time to match some 23 Korean defense product and parts makers with the U.S. Defense Ministry and 45 defense product and aircraft makers. Participating companies included Lockheed Martin and Rolls Royce, and a total of 114 export contracts worth $5.5 million were inked.

According to Kotra, the U.S. federal procurement market is the world’s largest public sector market at nearly $440 billion a year.

The agency said the U.S. government’s protectionist trade policies had made it difficult to enter the market, but that it had selected small and midsize Korean producers whose strengths were in products not produced by American companies.

More in Industry

LG may hang up on smartphone business

Gold rush

Look out below

FKI calls on government to improve trade with Taiwan

Shopping patterns evolve as the pandemic drags on

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now