The Ministry of Intellectual Property (MOIP), led by Minister KIM Yong Sun, and the Public Procurement Service (PPS), led by Administrator BAEK Seung Bo, announced that they have signed a Memorandum of Understanding (MOU) at the Government Complex in Daejeon on March 19, 2026, to support Korean companies seeking to enter overseas procurement markets.

The global procurement market, in which companies compete for public contracts to supply goods and services to governments and public institutions, is worth about USD 2 trillion annually. Although there is a high initial barrier to entry, it is a high-potential market that offers stable, long-term business opportunities for companies. To help Korean companies expand into these markets, the Korean government has been strengthening its support measures, such as providing customized assistance and inter-agency collaboration, which is also a part of the broader efforts to open up new markets.

In particular, securing and protecting intellectual property (IP) from the early stages is vital to maintaining technological competitiveness as companies enter overseas procurement markets. MOIP and PPS have therefore agreed to align their policies and support programs to better help companies respond to potential IP disputes and risks of technology leakage.

Under the MOU, the two agencies will also cooperate in five key areas: 1) strengthening companies’ capabilities to protect intellectual property and respond to disputes in overseas procurement markets; 2) providing IP education and consulting support for exporting companies; 3) expanding mutual exchange and utilization of IP information; 4) collaborating to raise awareness of IP protection and improve related systems; and 5) coordinating the use of evaluation committee members.

Administrator BAEK Seung Bo of PPS stated, “Competitiveness stems from innovative and high-quality technologies that can be acknowledged in the global procurement market. Through this cooperation with MOIP, we will spare no effort in providing diverse support to protect the valuable core technologies of companies and to ensure that they can advance into the global procurement market more securely.”

Minister KIM Yong Sun of MOIP stated, “Overseas procurement projects involve a high risk of exposing companies’ core technologies, including patents and trade secrets, during proposal submissions and negotiations, potentially leading to IP disputes. Through cooperation with the PPS, we will actively support companies entering overseas markets to minimize the risk of IP disputes and to strengthen their IP-based competitiveness in the global market.”

Source: Ministry of Intellectual Property Public Relations > News