Korea Trade Insurance Corporation’s ‘K-Sight’ upgrade, prevents trade fraud
Youngjin Jang, President of Korea Trade Insurance Corporation, is taking a commemorative photo at the K-SURE ON and K-Sight opening event held at the Korea Trade Insurance Corporation headquarters on Monday the 11th.
Korea Trade Insurance Corporation (hereinafter referred to as “Mubo”) announced on the 11th (Monday) that it has significantly upgraded its trade insurance big data platform (hereinafter referred to as “K-Sight”) to prevent damage from trade fraud and help ensure safe exports.
Mubo first launched K-Sight in November last year to help make export-related decisions by utilizing big data related to trade insurance accumulated over 30 years.
K-Sight provides various information such as ‘country, industry, company credit information, and payment information’, as well as ‘customized trade insurance recommendation’ that finds the most suitable insurance for exporting companies, and ‘hidden insurance money’ that allows you to check unclaimed insurance money. We also provide services such as ‘search’.
Through this reorganization, a new ‘Safe Transaction Self-Diagnosis’ service has been introduced that allows exporting companies to check in advance for the possibility of trade fraud.
When you enter key information about a suspicious buyer, such as the details of the contract, the buyer’s address, and payment conditions, AI analyzes the similarity with the damage cases entered into the database and informs you of the risk level.
With the development of digital technology, the risk of trade fraud such as hacking and third-party identity theft is increasing, so it is expected to be of great help in preventing damage to Korean companies.
In addition, we also provide an ‘economic sanctions target’ inquiry service that allows buyers to easily check whether they are subject to economic sanctions.
An official from Dong-A ST Co., Ltd., a domestic pharmaceutical manufacturing company, said, “Economic sanctions are complex and the targets of sanctions often change, but there was anxiety because there was no site to easily check them.” He added, “Thanks to K-Sight, we can now detect sanctions violations.” “My concerns have been alleviated further, and I think I will often use the newly introduced trade fraud self-diagnosis service,” he added.
Meanwhile, Mubo completed the project to enhance its customer-facing online channel and renewed and opened the digital trade insurance platform ‘K-SURE ON (formerly “Cyber Sales Office”)’ on the 11th (Monday).
‘K-SURE ON’ is a digital trade insurance platform that allows approximately 60,000 member companies to use trade insurance services such as insurance subscriptions in real time. ‘ON’ supports customers’ import and export business 24 hours a day and provides a more customer-friendly digital environment. It contains the meaning of ‘(溫)’.
The renewed ‘K-SURE ON’ has completely revamped the menu system focusing on customer convenience and provides a quick and convenient trade insurance usage environment by adding a simple authentication login method.
Youngjin Jang, President of Korea Trade Insurance Corporation, said, “Mubo’s innovative efforts to implement a digital platform government, which is a national task of the government, are bearing fruit one by one,” and added, “We will continue to develop digital services that combine the company’s big data and cutting-edge technology.” “We will help our companies conduct safe overseas transactions.”
Intern Reporter Hyunji Lee lee.hyunji2@joongang.co.kr