VECT Adds 18 New Excellent Procurement Electronic Whiteboards, Accelerates Expansion into Public Sector Market

VECT, a KOSDAQ-listed company, is accelerating its expansion into the public procurement market by significantly increasing its lineup of electronic whiteboard products designated as excellent procurement goods by the Public Procurement Service (PPS).

On August 18, VECT announced that it has added 18 new product specifications— including 75-inch, 86-inch, 98-inch, and 110-inch models— to its electronic whiteboard products already designated as excellent procurement goods.

With this expansion of specifications, VECT has secured a broader product lineup that addresses the needs of not only schools, but also local governments, public enterprises, and public research institutions. The newly added products are also equipped with VECT's patented technology that enhances the touch performance of the electronic whiteboards.

The Excellent Procurement Goods system by the PPS is designed to help outstanding products from SMEs and venture companies enter the public market, provided they have excellent technology and quality. Once a product is designated as excellent, it can be purchased through private contracts in accordance with relevant laws, and it is exempt from the second-stage competitive bidding process usually required for multiple-supplier contract purchases over a certain amount. This increases business competitiveness in the public sector market.

VECT successfully added these new product specifications based on multiple quality certifications, including patented technologies, green technology certification, green technology product verification, performance certifications, and LCC (Life Cycle Cost) economic effect analysis.

In particular, the LCC economic effect analysis found that the VECT electronic whiteboards deliver a cost-saving effect of 14.2% over the entire product usage period. Given that the excellent procurement goods designation review usually has a stringent selection rate of around 20%, the company expects that this will not only strengthen product competitiveness in the public sector but also serve as proof of quality in business-to-business transactions in the private sector.

VECT is currently preparing the contract procedures to register its products with the Public Procurement Service and National e-Procurement General Shopping Mall. Once registration is completed, the company plans to further expand its direct proposals customized to each public institution’s installation environment and usage needs, aiming to boost sales of high-margin excellent procurement products.

A VECT official stated, "With the expansion of excellent product specifications, we can now offer proposals tailored to the unique installation environments and usage purposes of each public institution. After registration with the National e-Procurement General Shopping Mall, we plan to focus on direct proposals to clients based on our electronic whiteboard technology to increase sales of high-value excellent products."

This content was produced with the assistance of AI translation services.