‘Import Genius’, which provides export and import customs clearance data for 18 countries around the world, will provide domestic companies with the latest export data for 18 countries for free starting from the 5th to minimize damage from the recent war in Ukraine and changes in the global supply chain caused by the COVID-19 pandemic. It is said that it will be provided.
According to data released by the International Trade Research Institute of the Korea International Trade Association (survey target: 1,094 domestic export companies), approximately 86% of export companies are experiencing problems due to supply chain changes and bottlenecks. Some of these companies are responding by finding replacements for key items (36%) and securing inventory (18%), but they do not have a response strategy (12%) or temporarily reduce or suspend production (15%). The problems faced by struggling companies are very serious.
To improve this, Import Genius plans to provide the most up-to-date export customs clearance data for each company from 18 countries around the world that it possesses to the Korean market free of charge. The data includes each country’s export companies, their trading products, trading partners, trading volume, and transaction date and time. The countries for which such data is available are Russia, Ukraine, the United States, Vietnam, India, 12 South American countries, and Sri Lanka. etc.
Using this data, domestic companies can diversify their supply chains by discovering supply companies in various countries and exploring possibilities for collaboration. They can also track changes in volume through a transaction relationship between companies based on the latest data analysis to provide Scenarios suitable for the situation and risk minimization measures can be developed.
Jo Ji-won, CEO of Import Genius Korea, said, “We plan to extract and provide customized data to companies that need our data, and to improve the fairness of benefit recipients, all extracted data will be made public on the web.”
Meanwhile, Import Genius Korea is currently a company located in the Pangyo Startup Zone established by the Ministry of SMEs and Startups and operated by the Startup Promotion Agency and the Gyeonggi Creative Economy Innovation Center. Detailed information can be found on the Import Genius Korea website.
Source: Pangyo Techno Valley Official Newsroom
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