The customs service office in Korea has announced that it will be using blockchain technology with Samsung SDS.
According to an announcement, the Korea Customs Service has teamed up Samsung SDS. The new partnership will see that blockchain technology is used in order to improve its customs clearance system.
The press release states:
“The Korea Customs Service plans to establish a cooperation system to jointly respond to changes in the industry while restructuring business procedures and establishing export customs and logistics services with civil organizations participating in the project.”
Samsung SDS functions as the IT component of Samsung. The company has entered into a partnership with a further 48 companies and organizations in order to support successful business management with the country’s Customs Service.
The new system is said to be targeted at organizations who are involved in the export industry. This will help to streamline and offer protection in the process of sharing documents at each point. This involves stages from customs declarations to the delivery. The system will also offer features to notice and avoid the use of forged documents.
Kim Hyung-Tae, vice president of logistics division of Samsung SDS, said regarding the new endeavor:
“We will contribute to enhance the competitiveness of national logistics by further strengthening the leadership of logistics blockchain field with the successful execution of this project.”
The announcement comes months after Samsung SDS released the news that it would use blockchain to manage its global supply chains. At the time, the company was launching a system to operate in-house, rather than intended for another organization. It was predicted that the platform, which would track international product shipments, would reduce shipping costs by as much as 20%.
SDS chief Song Kwang-woo had said that the project, launched in April, would have “an enormous impact on the supply chains of manufacturing industries. Blockchain is a core platform to fuel our digital transformation”.