11st and Korea Customs Service Sign MOU to Streamline E-commerce Customs Clearance System

11st announced on the 1st that it has signed a "Business Agreement for the Efficiency of E-commerce Customs Clearance System" with the Korea Customs Service. (From left) Lim Jae-hyun, Commissioner of the Korea Customs Service, and Lee Sang-ho, CEO of 11st, are posing for a commemorative photo.

[Asia Economy Reporter Yuri Kim] 11st announced on the 1st that it has signed a 'Memorandum of Understanding (MOU) for the Efficiency of E-commerce Customs Clearance and Logistics System' with the Korea Customs Service. Through this, 11st and the Korea Customs Service will form a public-private cooperation body to establish a rapid customs clearance system and create a safe overseas direct purchase market.

The signing ceremony held at the Seoul Main Customs Office on the 1st was attended by Sangho Lee, President of 11st, and Jaehyun Lim, Commissioner of the Korea Customs Service, where they discussed mutual cooperation plans for designing customs clearance logistics systems, laws, and IT systems optimized for the growing domestic overseas direct purchase market.

Through this agreement, 11st plans to conduct a pilot project to build a safe and rapid delivery environment by sharing transaction data such as order, payment, and logistics information of reliable sellers' overseas direct purchase goods with the Korea Customs Service, utilizing it for pre-verification during customs clearance, and minimizing customs inspections.

Additionally, they will cooperate in advising on the reorganization of the global e-commerce customs clearance system and forming a public-private consultative body, including establishing a system to preemptively block illegal or hazardous products.

In August, 11st launched the country's only 'Amazon Global Store.' Through this agreement, they have created a unique environment where customers can experience overseas direct purchases more quickly and conveniently.

Commissioner Jaehyun Lim of the Korea Customs Service stated, "Taking this agreement as an opportunity, we will continue to expand collaboration with related industries to establish an efficient and safe customs management system for the rapidly increasing e-commerce imports and exports."

President Sangho Lee of 11st said, "Through cooperation with the Korea Customs Service, we can actively contribute to reorganizing a safe and rapid customs clearance system in the overseas direct purchase sector via e-commerce. We will continue to promote measures to increase consumer benefits by mobilizing all of 11st's capabilities, which are bringing new innovations to the direct purchase market."