The South Korean government is looking into new measures to help support innovative growth and boost jobs through changes to the national contract law. <br />Kim Hyesung has the details.<br /> <br /> The government is putting forward a revised bill on bidding methods.<br />The finance ministry says the revision to the national contract law includes a so-called 'competitive dialogue bidding system' to help foster purchases of innovative goods and services.<br />Under the system, bidders will directly communicate with the ordering body to identify the best way to satisfy their needs and to find the most qualified bidder.<br />The government will also allow private contracts between R&D manufacturers and government institutions to help public purchases of innovative goods. <br /> To prevent purchases of buying low cost, low quality goods, the ministry says existing low-cost bidding contracts on goods below 210 million Korean won, or 194-thousand U.S. dollars, will be abolished.<br />Instead, the government will apply competitive bidding methods for startups and venture companies on contracts below 100 million won, or around 92-thousand dollars. <br />There will also be clearer standards on contract unit prices.<br /> In addition, social enterprises and companies that create more jobs will be given extra bidding benefits.<br />For companies with a history of labor law violations, bidding qualification limits will be extended from one month to three months. <br /> The revised bill is expected to be proclaimed and implemented later this year.<br />Kim Hyesung, Arirang News. <br />
