The Korea Customs Service (KCS) has announced that it has signed a Memorandum of Understanding (MOU) with a number of e-commerce companies to implement a blockchain-based e-commerce customs clearance platform.
According to the official announcement dated May 28, the participating firms include Korea Center, CJ Korea Express, and Lotte Global Logistics. They will work closely with the KCS on the development and testing of the blockchain solution.
The KCS said that it has been conducting research and development relating to the development of a dedicated customs clearance platform specialized in e-commerce using blockchain technology. The objective is to improve the efficiency of handling customs clearance work in the wake of rapidly increasing electronic commerce goods.
“Through this pilot project, we will carry out technical verification for practical and effective application of blockchain technology in the field of e-commerce customs clearance, and plan to improve related laws and systems,” the KCS said (loosely translated).
The KCS believes that blockchain technology would help prevent forgery and alteration of information related to e-commerce transactions, and facilitate prompt customs clearance services through real-time and transparent sharing of information.
The announcement follows previous reports that the KCS will leverage cutting-edge technologies such as artificial intelligence (AI), big data, and blockchain to improve its customs administration.
