Korea Customs Service Pens MOU With E-Commerce Company to Improve Online Customs System

The Korea Customs Service signed a memo of understanding with Korean e-commerce company Coupang to develop an efficient e-commerce customs clearance and logistics mechanism at the customs office in Seoul, the customs agency announced in a June 7 news release, according to an unofficial translation. The intent is to create computerized systems and laws for the rapidly developing e-commerce market. The mechanism includes the expansion of a public-private consultative forum and a pilot project for sharing customs information. For instance, when an e-commerce company shares transaction data with the Korea Customs Service, that data will be used for pre-verification and data collaboration to ensure expedited customs clearance.