The Korea Herald


LG CNS to outline tech infra for next-generational govt e-procurement system

By Son Ji-hyoung

Published : March 29, 2018 - 16:30

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LG CNS has been selected as the most preferred bidder for a 2.2 billion won ($2.1 million) project to outline technological infrastructure for a next-generational e-procurement system by the Public Procurement Service, according to the firm Thursday.

Through the bid, the information technology arm of LG Corp. will be engaged in a project for information strategy planning, a first step to revamp the state-run e-procurement system, locally dubbed “Nara Jangteo.” 

A screenshot of A screenshot of "Nara Jangteo," Korea's state-run e-procurement system.
LG CNS said it will provide its cutting-edge information and communication technologies, including cloud storage models, The improvement in online system is expected to save some 700 billion won, added the firm.

The winning of the bid heightened the possibility of LG CNS being chosen for a 50 billion won bid early next year to overhaul the system, according to the firm.

Korea’s e-procurement system is estimated to have processed bids worth a combined 87 trillion won each year.