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Digital signage group K-Sys Co., Ltd. (CEO Cheon Byung-min) recently announced that its LED display has been designated as an "Innovative Product." K-Sys is the first company in Korea to have its LED display (information display) selected as an Innovative Product by the Public Procurement Service.
The Public Procurement Service’s “Innovative Procurement” is a new procurement paradigm designed to support technological innovation and innovative growth while enhancing the quality of public services. Under this initiative, the Public Procurement Service purchases innovative products and technologies first and uses them on a pilot basis to meet public innovation needs within the public sector. Furthermore, an "Innovative Product" refers to a product recognized for its public value and innovative nature, designated after deliberation by the Ministry of Economy and Finance’s Procurement Policy Deliberation Committee to enhance public services and promote technological innovation. K-Sys was designated as an "Innovative Product" for its LED display panels (indoor and outdoor models, 18 types).
Once designated as an "Innovative Product," the company receives support from the Public Procurement Service for the "Innovative Product Pilot Purchase" program in accordance with the Enforcement Decree of the Act on Public Procurement. In addition, the product is registered on the "Innovation Marketplace (Comprehensive Innovation Procurement Portal)," enabling "direct contracting." A key advantage is the "Innovative Product Purchaser Liability Exemption" system, which stipulates that if a loss occurs due to the purchase of an Innovative Product, the purchasing officer of the procuring agency is not held liable for the loss unless intentional misconduct or gross negligence on their part is proven.
Chun Byung-min, CEO of K-SIS Co., Ltd., stated, “It is truly meaningful that our LED display (information display), created through K-SIS’s proprietary technology, has been designated as an innovative product for the first time in Korea, officially validating our technological capabilities.” He added, “Building on this designation by the Public Procurement Service, we will strive to become an innovative company that contributes even more to improving public services.”
Meanwhile, K-Sys Co., Ltd. is a specialized LED display company with a track record of large-scale LED displays across various sectors, capable of handling everything from consulting to development, production, installation, and maintenance. K-Sys’s innovative product is available for purchase on the “Public Procurement Service Innovation Marketplace,” a public innovation procurement platform. It can be found by entering “K-Sys” or the “product identification number” in the search bar at the top of the Innovation Marketplace website.