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The Blockchain Can Radically Automate Trade

By Keith Haurie, Vice President of Business Development for ONESOURCE Global Trade at Thomson Reuters The distributed ledger technology known as the blockchain has achieved substantial adoption in the finance industry and is seeing rapid adoption in others, such as healthcare, insurance, and legal. Soon, it will begin to dynamically change how large corporations operate, and … Read More

Korea’s Sluggish Trade and the Government’s Efforts to Boost This Slump

Current status of international trade in Korea Being the world’s sixth largest exporter, South Korea has a high level of dependence on exports for the economy. Recently though, the fiscal prospect of Korea’s economy for 2016 is dark, as exports are shrinking year-on-year from Jan. 2015 to Mar. 2016. In fact, Korea noted 15 straight … Read More

China New Authorized Economic Operator System

China Customs changed its Authorized Economic Operator (AEO) classification system last year.  In general, the revised regulations simplify processes and make it easier for new companies entering China to qualify for simplified customs procedures.  The new rules also bring China’s system into closer alignment with AEO legislations outlined in the WCO framework leading to greater … Read More