Samil PwC and Korea Port One Sign MOU to Advance Online Platform Settlement Solutions

For K-brands in Food and Beauty
Integrating Transaction and Settlement Data with Financial and Operational Processes

Samil PricewaterhouseCoopers announced on January 23 that it has signed a memorandum of understanding (MOU) with Korea Port One (hereinafter referred to as Port One), an artificial intelligence (AI)-based financial infrastructure company, to advance settlement data solutions generated on domestic and international online platforms.

Samil PricewaterhouseCoopers and Korea Port One signed a business agreement on the 22nd to advance the online platform settlement solution. From the left in the photo are Seunghwan Lee, AX Node Leader at Samil PricewaterhouseCoopers; Yongwook Jeon, Partner at Samil PricewaterhouseCoopers; Seungho Han, Chief Strategy Officer at Korea Port One; Seungwook Lee and Jaedong Kim, Partners at Samil PricewaterhouseCoopers. Photo by Samil PricewaterhouseCoopers

With the global growth of K-beauty and K-food, Korean companies are expanding their online sales channels, leading to increased demand for more accurate and efficient management of settlement data generated across multiple online platforms. This agreement focuses on automating repetitive and complex sales settlement closing work, leveraging Port One's AI-based data processing and analytics capabilities. Port One provides 'PortOne Prism,' a solution that automatically collects, reconciles, and processes sales data from domestic and international online platforms.

The two companies plan to advance their solutions by linking transaction and settlement data with financial and operational work, thereby streamlining corporate sales closing processes and supporting data-driven decision-making. Samil PricewaterhouseCoopers will be responsible for process design and planning that aligns with corporate financial and operational standards, utilizing its expertise in tax and accounting domains and its accumulated data. Port One will combine its large-scale commerce transaction data infrastructure and extensive platform integration experience with AI technology to automatically refine and connect massive amounts of field-generated data, and will lead the planning and development of solution enhancements that reflect this in the user experience (UX).

The two companies will also pursue collaborative projects to improve financial and operational processes, as well as joint marketing initiatives to expand their market presence in stages. To ensure smooth progress, they will operate a regular consultative body to share key developments and strategic directions.

Seungho Han, Chief Strategy Officer (CSO) of Port One, stated, "PortOne Prism aims to go beyond sales and settlement automation by creating a financial and operational infrastructure that uses AI to connect previously fragmented data flows-from inventory receipt to order, shipment, settlement, and accounting processing-into a single stream." He added, "Through this agreement, we intend to build a system in which data consistency issues, previously handled by humans, are now managed by the system itself." He continued, "Our collaboration with Samil PricewaterhouseCoopers will serve as an opportunity to connect this AI-based data structure with actual corporate financial and operational standards, expanding it into a form applicable across the entire industry."

Seungwook Lee, AX Node Partner at Samil PricewaterhouseCoopers, said, "By combining Samil PricewaterhouseCoopers' data and AI capabilities and domain expertise with Port One's commerce data and platform specialization, we will help companies precisely analyze and systematically manage sales performance and financial data by channel." He added, "We aim to lead the digital transformation of financial and operational processes in the commerce industry and build a collaborative ecosystem for mutual growth."