YONHAP reported the Korea Procurement Service said on the 28th it will extend procurement stabilization measures for goods affected by prolonged high oil prices, originally due to expire at month-end, through the end of the year. The measures target oil-sensitive asphalt concrete and volume-based municipal trash bags; they suspend second-stage competitive bidding among multiple suppliers to accelerate supply and relax price-adjustment rules so vendors can pass through raw-material cost increases

YONHAP reported the Korea Procurement Service said on the 28th it will extend procurement stabilization measures for goods affected by prolonged high oil prices, originally due to expire at month-end, through the end of the year. The measures target oil-sensitive asphalt concrete and volume-based municipal trash bags; they suspend second-stage competitive bidding among multiple suppliers to accelerate supply and relax price-adjustment rules so vendors can pass through raw-material cost increases. The measures were first introduced in March in response to sustained high oil prices caused by the Middle East war.