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[2026-01-27]Korea Public Procurement Service Expands Support for Overseas Market Entry in 2026

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The Public Procurement Service (PPS) has finalized its 2026 support plan to help Korean companies enter overseas procurement markets.
The overseas procurement market is valued at about KRW 2,700 trillion, with a focus on supporting innovative, technology-advanced, and G-PASS companies.
Efforts include expanding entry into international organization markets and strengthening export competitiveness through cross-ministerial cooperation.

[2026-01-27]Korea Approves Key Fiscal Projects for 2024: Rural Income, Energy, and More

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The Ministry of Economy and Budget held the 1st Fiscal Project Evaluation Committee of 2024, approving the validity of five new projects and two re-examined plans.
Major initiatives include the Basic Rural Income Pilot, Integrated Medical and Care Support, Overseas Expansion for Distribution Companies, and AI-based Distributed Energy, with total budgets reaching up to KRW 1.2676 trillion.
Relevant ministries plan to swiftly announce and implement these projects, aiming for tangible public benefits, balanced regional development, and the activation of new energy industries.

[2026-01-27]One-Stop Reporting System to Block Illegal Private Lending in Korea

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The Financial Services Commission (FSC) has announced a revision to the Enforcement Decree of the Lending Business Act to strengthen support for victims of illegal private lending.
From January 26 to March 9, 2026, the draft will be open for public comment, enabling victims to access all relief procedures with a single report.
The expanded role of the Credit Counseling & Recovery Service and related agencies is expected to accelerate victim support and block illegal lending activities.

[2026-01-27]PPS Expands 2026 Overseas Public Procurement Support for SMEs and G-PASS Firms

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The Public Procurement Service has finalized its 2026 plan to boost support for SMEs and innovative companies entering overseas public procurement markets.
The total support budget will increase to KRW 1.8 billion and demonstration funding to KRW 20 billion in 2026, with new programs for G-PASS enterprises.
PPS aims to strengthen global competitiveness by expanding international cooperation and tailored support for Korean suppliers.

[2026-01-27]Korea Launches Fast-Track System for Innovative Medical Devices, Reducing Entry to 80 Days

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The Ministry of Health and Welfare and the MFDS will implement the ‘Immediate Market Entry Medical Technology’ system from June 26, exempting innovative devices with international clinical evaluation from new technology assessment.
This reform shortens the entry period for medical devices from up to 490 days to as little as 80 days, covering 199 items including 113 digital devices.
Safety measures and controls against non-reimbursed overuse are included, aiming to boost industry innovation and accelerate adoption of advanced technologies.

[2026-01-27]Korea Strengthens Economic Cooperation After Korea-China and Korea-Japan Summits

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Deputy Prime Minister Koo Yun-cheol emphasized leveraging Korea’s industrial infrastructure and K-culture to boost strategic economic cooperation at the Foreign Economic Ministers’ Meeting on the 26th.
Key topics included reviewing outcomes of the Korea-China and Korea-Japan summits, cultural cooperation, critical minerals, overseas plant orders for 2026, and the Korea-Egypt CEPA.
The government aims to address global supply chain instability and trade risks while expanding international partnerships in industry, culture, and plant projects.