COEX outsourcing electronic bid for construction related products

July 26, 2006

COEX (Representative Jae-Kwan Jeong) has outsourced electronic bidding for all construction related products required for repair and maintenance of the exhibition halls, convention center, trade tower and the ASEM tower. According to an industry source on the 23 rd , COEX will proceed with resource supply for facility maintenance, reaching up to 30 billion won per year, through the electronic bidding service of iMarketKorea.

COEX had been outsourcing general consumable resources used for periodic maintenance to external e-marketplace suppliers, but resources required for facility repair construction had irregular demand, and such resources had been purchased through offline bids.

An employee from COEX said "Every time construction work was required, which was about 2~300 times per year, we had to carry out an offline bid and re-bid process after inspection and registration, which created a significant workload. This outsourcing will allow online processing of all purchase bids without construction of a separate system, and will give us improved efficiency and transparency." They are also expecting a cost saving of up to 10%.

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