South Korea Sports and Leisure Tenders

Soaring Growth: The South Korean sports & leisure market is booming, with a projected value of $7.15 billion in 2022. This growth is fueled by increasing interest in health and fitness, rising disposable incomes, and a growing middle class.
Sportswear Dominates: The market's biggest segment is sportswear, primarily occupied by global brands like Nike and Adidas. However, local brands are gaining traction, offering innovative and affordable options.

Government Procurement: The South Korean government plays a strong role in supporting the sports & leisure industry through significant procurement practices. This creates valuable opportunities for businesses in the sector.
Key Figures: In 2020, the Korean Ministry of Culture, Sports and Tourism reported government procurement for sports-related goods and services reaching $1.5 billion.

Products & Services: The government mainly procures sporting goods, apparel, equipment, and services for various sporting events, recreational facilities, and athlete development programs.

Ministry of Culture, Sports and Tourism (MCST): Oversees all sports & leisure policies and programs.
Korean Sport & Olympic Committee (KSOC): Responsible for managing national sports teams and promoting sports development.
Korea Sports Promotion Foundation (KSPO): Implements sports promotion programs and supports athletes.

Large sporting goods companies: Nike, Adidas, Puma, Yonex, etc.
Local sports & leisure companies: Kolon, Fila, K2, Hansae, etc.
Construction companies: Hyundai Engineering & Construction, Samsung C&T, etc.
Event management companies: IMG, Dentsu, etc.

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