South Korea extends high oil price-related procurement stabilization measures until the end of the year
2026-09-28 09:55:45
According to CoinMeta, and as reported by Yonhap News, the Korean Procurement Agency stated on the 28th that due to the prolonged high oil prices caused by the Middle East conflict, the measures taken to stabilize the procurement market for goods affected by these high prices, which were set to expire at the end of this month, will be extended until the end of the year. The goods in question are asphalt concrete, which is significantly impacted by oil prices, as well as metered garbage bags that are closely related to people's daily lives. In March of this year, the Korean Procurement Agency implemented relevant measures for these products, exempting multiple suppliers from the second stage of competition in order to ensure rapid supply; at the same time, it relaxed the conditions for price adjustments, allowing companies to promptly reflect rising costs in the prices of their products when raw material prices increase. Ba Ho-seong, the director of the Korean Procurement Agency, said, "Even amidst uncertainties in both domestic and international environments, we will stabilize the procurement market through proactive administration, so that companies can focus on their business operations with peace of mind."
Source:Jin10 Data
This content is for market information only and does not constitute investment advice.
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