Studies in Trade and Investment: The Development Impact of Information Technology in Trade Facilitation

Abstract

International trade has been, and continues to be, one of the most important factors in the growth and development of the Republic of Korea. Because of the importance of trade, the Republic of Korea has always been interested in ways of making trade easier and faster. By the late 1990s, the Republic of Korea was one of the most "wired" countries in the world. Given the rapid pace of IT adoption, it made sense for the Republic of Korea to utilize IT for customs procedures and trade facilitation. The Government of the Republic of Korea vigorously pursued extensive use of IT for cargo clearance in order to reduce transaction costs and regulatory burden for traders, especially small and medium-sized enterprises (SMEs).Trade facilitation, ICT, IT, SMEs, international trade, customs, the Republic of Korea