Blockchain Customs Platform Planned By Korean Customs Service

Announcements, Blockchain | June 1, 2018 By:

The Korea Customs Service (KCS) has partnered with Korea Center to develop a blockchain customs platform.

Korea Center is the operator of Malltail, South Korea’s largest consumer parcel forwarding service with approximately 1,000,000 users. Korea Center will be tasked with business and technical development of the blockchain platform, which is to be operated by the KCS for seven Malltail distribution centers across the US, Japan and Germany.

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.

“When blockchain technology becomes fully scaled, the process of clearing goods through customs will be simplified through mutual sharing of information and the automatic generation of reports,” the KSC said. “It is expected that customs service will become more transparent.”

Initially, the blockchain platform will undergo a testing phase with 50 domestic companies, including Matrix Tobi Co. Ltd., Nomad Connection Co. Ltd., and CJ Korea Express Co. Ltd.

“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.