Korea Customs Service, full-fledged operation of ‘trade my data transmission and management online platform service’ from the 14th
In the future, trading companies will be able to transmit their export and import data (Trade My Data) to banks and public institutions in one minute, greatly simplifying the application process for trade finance and export support projects.
The Korea Customs Service announced on the 13th that it will operate an online platform service that allows trading companies to easily transmit and manage their own trade data to banks and public institutions from the 14th.
This is one of the implementation tasks of the ‘Digital Customs Regulatory Innovation Plan’ announced at the 3rd Regulatory Innovation Strategy Meeting presided over by the Prime Minister on March 2, and is promoted to simplify the application process for trade finance and export support projects for small and medium-sized exporters. done.
Previously, in order for companies to apply for trade finance or participate in other support projects, they had to receive their import and export records from the Korea Customs Service and submit them to banks or public institutions in the form of paper documents.
However, with the launch of this platform service, import and export performance can be easily viewed and transmitted electronically within a minute.
In particular, small and medium-sized e-commerce (B2C) exporters, who had virtually given up on trade finance applications due to the nature of small and multiple exports, incurred excessive administrative costs, providing an opportunity to utilize trade finance.
Looking at the process of using this platform service, first select a desired financial institution through the Banktras platform and electronically transmit its import and export data.
Currently, only IBK Industrial Bank of Korea is available as a financial institution, and other banks are scheduled to introduce it sequentially in the future.
Then, if you want to participate in the corporate support project of 6 public institutions such as SMEs and KOTRA, you agree to provide data on the ‘Trade My Data Platform’ and electronically transmit your import and export data to the relevant public institution.
“The Korea Customs Service plans to continue supporting the digitization of trade business by expanding the number of financial institutions and public institutions subject to service and providing customized data analysis services,” said Yoo Yeong-han, information and data policy officer at the Korea Customs Service.
Reporter Kim Jin-hee of Helloty |
2023-06-13 13:15:44
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