NATIONAL

Korea ranks 24th in UN procurement market: report

By 임정요
  • Published : Oct 23, 2016 - 15:31
  • Updated : Oct 23, 2016 - 15:31

South Korea provided the United Nations with $192.85 million worth of goods and services in 2015, accounting for only around 1 percent of the global body's total procurement of the year, an official report showed Sunday.

The figure marks an 8.9 percent increase from the volume of the UN's procurement from South Korea, according to an annual statistical report by the UN Office for Project Services.

But South Korea ranked the world's 24th in the field, which is relatively low for its economic size. South Korea is the 11th-largest economy in the world. In Asia, it comes in fourth after China, Japan and India.

A total of 991 local firms are registered on the UN Global Marketplace as potential suppliers.

Two dozen different UN organizations procured goods and services from South Korea last year worth $192.85 million, a fourfold increase from $46.6 million in 2009.

By item, medicine accounted for 92.5 percent and the remainder included vehicles, related parts and lab equipment.

Green Cross Corp., a pharmaceutical firm, ranked top among South Korean firms with a supply of $81 million worth of products, some 10 percent of its total sales last year. (Yonhap)