Korea Center, which operates Malltail, one of the biggest package forwarding services in the country, has concluded a Memorandum of Understating (MOU) with Korea Customs Service (KCS) to promote a blockchain-based e-commerce customs platform.
In total eight organizations will participate in the pilot program, among them Matrix Tobi Co. Ltd., Nomad Connection Co. Ltd., and CJ Korea Express Co. Ltd. Korea Center was selected as a mandatory participant.
The company will conduct business and technical verification for the development of a blockchain-based customs platform. It will be operated by KCS through seven Malltail distribution centers located in the US, Japan and Germany.
Kim Kee-rok, CEO of Korea Center, said:
"I am very pleased to be selected as a participating company in this pilot project to establish a blockchain e-commerce customs platform ... In the future, [I plan to introduce] a full payment service."
When blockchain technology becomes full-scale, information will be mutually shared and import declarations will be generated automatically and reported to customs. This will simplify customs clearance of goods and achieve more transparency in customs service.
By Ekaterina Ulyanova