./.RESTRICTEDWORLD TRADE
ORGANIZATIONGPA/W/12/Add.7/Rev.2
11 February 1999
(99-0554)
Committee on Government Procurement Original:  English
THE THRESHOLDS IN APPENDIX I OF THE AGREEMENT AS EXPRESSED
IN NATIONAL CURRENCIES FOR 1997/1998
REPUBLIC OF KOREA
Revision
In pursuance of the agreed procedures (GPA/1 , Annex 3), delegations have been invited to
notify their respective thresholds expressed in national currencies and fixed for two years.
The information notified in response by the Republic of Korea is reproduced below.
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1. Calculation of threshold figures in national currency
Annex 1 Entities Threshold value
(SDR)Threshold value in national
currency (won)
1. Supplies and services 130,000 151,000,000
2. Construction services 5,000,000 5,830,000,000
Annex 2 EntitiesThreshold value
(SDR)Threshold value in national
currency (won)
1. Supplies and services 200,000 233,000,000
2. Construction services 15,000,000 17,490,000,000
Annex 3 EntitiesThreshold value
(SDR)Threshold value in national
currency (won)
1. Supplies 450,000 524,000,000
2. Construction services 15,000,000 17,490,000,000GPA/W/12/Add.7/Rev.2
Page 2
2. Method of calculation
It is the average of monthly rate of the national currency in terms of the SDR over the two-
year period from November 1994 to October 1996.  The conversion rates published by the IMF in its
monthly "International Fiscal Statistics" was used for this calculation.  The example of this calculationis attached.
3. Example of calculation
Period Exchange rate
(Unit:  won/SDR)Period Exchange rate
(Unit:  won/SDR)
November 1994 1,157.1 November 1995 1,143.1
December 1994 1,151.4 December 1995 1,151.6
January 1995 1,161.7 January 1996 1,138.6
February 1995 1,174.6 February 1996 1,146.6
March 1995 1,203.9 March 1996 1,143.7
April 1995 1,198.3 April 1996 1,129.2
May 1995 1,197.8 May 1996 1,136.3
June 1995 1,189.3 June 1996 1,170.0
July 1995 1,179.8 July 1996 1,191.9
August 1995 1,150.9 August 1996 1,194.4
September 1995 1,157.5 September 1996 1,182.0
October 1995 1,144.1 October 1996 1,200.4
- The exchange rates are quoted from the IFS.  It is the rate at the end of each month.
- Example of calculation:
- The average exchange rate of won in terms of SDR
27,994.2 won/24 months = 1,166.425 won130,000 (SDR) * 1,166.425 won =151,635,250 won
- The final conversion rate:  151,000,000 won
(*The figures under million won are deleted for simplicity of implementation.)
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