The process for certifying export performance for service companies, including those in content and software, is set to be simplified. By linking export performance certification channels across different sectors and establishing an AI-based collaborative review system, the burden of documentation for companies utilizing export support programs, such as trade insurance, will be reduced.
On November 10, the Ministry of Trade, Industry and Energy announced that six organizations, including the Korea International Trade Association, will sign a memorandum of understanding (MOU) at the Trade Tower in Samseong-dong, Seoul, to create a service trade cooperation system based on a next-generation trade platform. The participating organizations include the Korea International Trade Association, the Korea Creative Content Agency, the Korea Trade Insurance Corporation, the Korea Artificial Intelligence and Software Industry Association, the Korea Shipping Association, and the Korea Tourism Organization.
This agreement aims to improve the management and certification system for export performance as the importance of service exports, such as K-content and software, continues to grow. Previously, the certification of service export performance was fragmented across different issuing organizations by sector, leading to inconveniences for companies that had to submit separate documentation when utilizing support programs like trade insurance due to a lack of information sharing between institutions.
Currently, the Korea International Trade Association issues certificates of export performance not only for direct exports of general goods but also for services and intangible assets in electronic form. However, the requirements for recognizing and certifying performance vary by service sector, limiting the integrated use of related information.
In response, the signing organizations plan to connect the export performance certification channels centered around the 'next-generation trade platform' being developed by the Korea International Trade Association. They will particularly establish a collaborative review system by sector using AI to support companies in certifying their export performance more conveniently and accurately.
A classification system for export performance that reflects the characteristics of service sectors, such as content and software, will also be refined. This aims to reduce the differences in existing certification procedures and enable companies to manage their export performance systematically.
Additionally, plans are underway to link service export performance information with various export support programs, including trade insurance. With expanded information sharing among related institutions, it is expected that the burden of submitting duplicate documentation when applying for support programs will be alleviated.
The Ministry of Trade, Industry and Energy plans to continue identifying challenges faced by service export companies and pursue improvements to related systems, including export performance certification.
“As we approach the era of $1 trillion in exports, it is important to expand our export base beyond goods like semiconductors and automobiles to include services such as content and software,” said Kang Gam-chan, Director of the Trade and Investment Bureau at the Ministry. “We will work to enhance trade infrastructure so that service export companies can conveniently certify their export performance and utilize it for various support programs, including trade finance.”
* This article has been translated by AI.
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