The Korea Health Industry Development Institute (KHIDI) said it would help local healthcare companies jump into the overseas procurement business by allowing them to connect with foreign clients and procurement experts.

The government-funded institute will release detailed steps at a Global Healthcare Procurement Conference 2019 at the Seoul Conrad Hotel Monday.

The three-day event is part of KHIDI’s project to help local companies by providing them with the analysis of overseas procurement market, various related information, know-how on commercializing public procurement services, and corporate consulting.

"International organizations, such as Asian Development Bank, U.N. Development Program, Unitaid, World Health Organization and Global Fund, as well as officials from the Philippines, Vietnam, Kenya and South Africa, will attend the event," the agency said. "It will consist of the International Health Care Cooperation Forum I and II and a business counseling session."

The International Health Care Cooperation Forum will focus on the demand and trends in international bidding and public procurement projects in the healthcare sector, information on the domestic pharmaceutical and diagnostic equipment overseas procurement market, and cooperation cases.

The organizers will also hold business meetings between overseas clients and procurement experts and local healthcare companies.

"We will continue to expand support for local businesses in the overseas procurement market, which reached 133.9 trillion won ($161.8 billion) in 2018, by establishing a global business network, providing procurement information, and consulting support," a KHIDI official said.

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