Paperless trade between Korea and Japan

The EDI (Electronic Data Interchange) system between Korea and Japan will be one-step forward for an inter-country paperless trade system from early next year.

According to KT-NET (Korea Trade Network) on December 11, both countries agreed to connect their EDI systems for steel plate imports for Hyundai Motor.

KT-NET would be in charge of electronic business in Korea while TEDI would take charge in Japan. The EDI systems for the two countries will be connected via ISDN (Integrated Services Digital Network).

As an MOU (Memorandum of Understanding) is nearly complete, a demonstration of the system is expected early next year.

The first phase of the demonstration is scheduled for the end of next February and will send commercial invoices for steel imports through Mitsubishi, packing lists (P/L), and bills of lading (B/L).

KT-Net said, "Trade between Korea and Japan amounted to 52.3 billion dollars last year, and we hope to save several hundred million dollars through this electronic trading system."