iMarket Korea announced that it participated in a joint bid with U.S. munitions company PAE and was selected as a consumable material maintenance, repair, and operations (MRO) vendor, to maintain and repair facilities in South Korea by the U.S. Department of Defense.
The contract period is two years, which can be extended twice by 18 months at the choice of the Pentagon's Military Bureau.
The quantity and size of this contract have not been determined. However, the U.S. Department of Defense stated that the maximum budget that can be executed if the contract is extended to the maximum is $375 million (about 420 billion won).
The actual execution rate is up in the air. The industry expects the contract to prove iMarket Korea's world-class competitiveness in services. This is because the U.S. Department of Defense's requirements are famous for its strict requirements.
Earlier, iMarket Korea and U.S. military company PAE established PAE-IMK International Corporation at a ratio of 51 to 49 to participate in the bidding.
Reporter Lee Ji-sun stockmk2020@gmail.com
