First approval of on-line export

For the first time, the on-line export of software overseas was approved and recorded as the actual export. On May 1, the Korea International Trade Association (KITA) announced that it issued an export-import verifying certificate to the Sevitec, a venture company in Kumi, as the company exported the TV Processor VCT solution software to India and Brazil.

This is the first approval of the on-line export recorded as the actual export since the Overseas Trade Law revised both the Enforcement Ordinance and the management regulation that would approve the on-line export. The Sevitec exported $ 315,197 and $ 150,000, respectively to LG’s corporation in India and to an electricity company in Brazil.

As it achieved the export-import verifying certificate, the Sevitec becomes the beneficiary of the trade financing, export reward, etc. based on the export-import record issued by the bank.

If you would like to receive the on-line trade verifying certificate, fill out the application form, which you can download from the website www.onlinetrade.or.kr, and turn it to the Korea International Trade Association or the Korea Software Industry Association.

sanjuck@donga.com