Korea Eric Co. Secures KRW 23.45 Billion Contract for Excellent Procurement Goods in South Korea
11 Nov 2025
South korea - 21 October 2025 Korea Eric Co., Ltd. has been awarded a third-party unit price contract worth KRW 23.45 billion for the provision of superior procurement goods, specifically closed switchboards, to various public demand agencies throughout South Korea, marking a significant step to strengthen the supply of high-quality industrial equipment. Under number R25BK01100907-000, the contract was completed on October 21, 2025.Project OverviewThe government's Excellent Procurement Goods Program, which aims to encourage innovation and guarantee the effective supply of certified, high-performance items to national and local government bodies, is responsible for this award. Multiple public agencies can purchase standardised items at pre-negotiated costs through reliable suppliers thanks to the third-party unit pricing system, which guarantees cost-effectiveness and uniformity in quality. The supply and upkeep of closed switchboards, an essential electrical infrastructure component utilised in public buildings, industrial facilities, and large-scale infrastructure facilities, are covered under the present contract (Project No. 2025071).Organisations and AgreementsBecause South Korea's government procurement system is decentralised, the purchasing authority for this contract is stated as Each Demand Agency. This arrangement allows several agencies to individually place orders at the agreed unit pricing with Korea Eric Co., Ltd., the designated supplier, throughout the duration of the contract. A producer and supplier of electrical and electronic equipment with headquarters in South Korea, Korea Eric Co., Ltd. has a solid reputation for quality assurance, creativity, and adherence to national safety regulations. The award confirms the company's standing as a major participant in the supply chain for the public and industrial sectors in South Korea.Impact and significanceThe KRW 23.45 billion contract is a significant investment in the modernisation and standardisation of vital public infrastructure systems in South Korea. In order to support the government's overarching goals of energy conservation, dependability, and safety, closed switchboards are essential for maintaining steady and secure power distribution in crucial facilities. The government continues to uphold its policy of encouraging local manufacturing excellence and self-reliance in the manufacture of industrial goods by giving this contract to a domestic provider.Outlook for the futureIt is anticipated that this award will lessen administrative constraints at public institutions and enable more effective procurement operations. Additionally, it puts Korea Eric Co., Ltd. in a position to take part in upcoming national initiatives related to industrial automation, smart grids, and the integration of renewable energy.A key component of South Korea's innovation-driven procurement strategy, the Excellent Procurement Goods project promotes cooperation between public organisations and competent domestic manufacturers.Latest Government Tenders and Contract Awards in South Korea - TendersOnTimeTendersOnTime - Your trusted source for latest government tenders, RFPs, RFQs, and contract awards in South Korea Stay updated with the latest public procurement opportunities and tender notices in South Korea at TendersOnTime Find all South korea government tenders, eProcurement updates, and contract award notices on TendersOnTimeExplore live tenders, bids, and procurement opportunities South Korea with TendersOnTime - The global tender portalTendersOnTime brings you verified tenders, procurement news, and contract awards from South korea and worldwideTags: #SouthKorea #ContractAward #ProcurementNews #KoreaEric #ElectricalEquipment #ClosedSwitchboard #ExcellentProcurementGoods #PublicProcurement #IndustrialContracts #GovernmentTenders #InfrastructureDevelopment #TenderResults #KoreanIndustry
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