South Korea Smart Cards and Access Control Tenders

South Korea's smart cards and access control systems market is booming, driven by increasing government investments in infrastructure and a strong emphasis on security. The market is expected to reach USD 2.7 billion by 2030, growing at a significant CAGR of 12.5%.

The South Korean government plays a major role in driving the market, allocating substantial budgets to procure smart cards and access control systems for various applications. In 2023, government procurement reached USD 500 million, accounting for 25% of the market share.

Procured Products and Services: Key products and services procured by the government include:
Smart cards: Identification cards, transit cards, payment cards, and access control cards.
Access control systems: Card readers, biometric readers, turnstiles, and security management software.
Integration and maintenance services: Installation, configuration, and maintenance of access control systems.

The Ministry of Public Administration and Security, Ministry of Science and ICT, and local government agencies are the primary authorities responsible for smart card and access control system procurement.

Major beneficiaries of government contracts include global players like Honeywell, HID Global, Gemalto, Samsung SDS, and SK Telecom. Additionally, local companies like Interbio, Suprema, and Isonas are also gaining significant traction.

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