KICT to Strengthen Information Support for Businesses Expanding Globally (March 11)
- OVICE to be updated on March 11
- OVICE will provide more information on more countries and provide tailored services to customers
□ The Korea Institute of Civil Engineering and Building Technology (KICT) announced that it will expand its Overseas Information System for Construction Engineering (OVICE), which provides tailored technology information by country for SMEs, and fully roll out the advanced service from March 11.
□ Launched in 2016, the OVICE is a service to support Korean SMEs that have difficulty collecting necessary information when expanding globally. The OVICE provides detailed information of laws, regulations, licensing, tender, contracting, design, project management (materials, equipment, personnel management, taxes) and actual cases on the website (www.ovice.or.kr), making significant contributions to SMEs.
□ The major updates of the OVICE include: an increase in the number of countries and quantity of data, more guidebooks for global expansion, and an improvement in tailored information service.
□ The OVICE added three countries (Sri Lanka, Cambodia, Uzbekistan) to its search system so that the users can look for necessary information in 12 countries (six Southeast Asian, one Southwestern Asian, one Central Asian, one European, one African, one Northern American and one Latin American countries) in total. The amount of data also rose by 40% from some 10,000 to 14,000 entries and information related to construction laws in each country is updated. The selected countries are the ones with higher possibility of giving Korean businesses contracts, given the construction engineering market size, growth potential, and the ODA scale of each country.
□ Also, “Guidebooks for global expansion“ will cover 12 countries from the current 9 countries, which is a comprehensive guide of the legal framework, approval and licensing, customs and market information with regards to the construction industry of each country.
□ Tailored information service will be available from the current 6 countries to 10 countries, adding Turkey, Kenya, Sri Lanka, and Cambodia to support decision-making and overseas business of SMEs.
□ KICT President Han Seung-heon said that the KICT will focus on collecting information of Pakistan, Tanzania, and Columbia and increase the number of entries to 18,000, and added that the Institute will continue to expand the amount of information available and improve services to support global expansion of Korean SMEs.