Shinhan Bank Launches Bank Industry's First Ship Cargo 'EDI Notification Service'

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 4th that it will expand the EDI notification service for import cargo delivery guarantees to include maritime cargo, targeting customers without an EDI agreement, marking the first implementation of this electronic document interchange (EDI) method in the banking sector.

An import cargo delivery guarantee is a certificate issued by the bank to the shipping company, allowing import customers to collect their cargo without presenting the original bill of lading when the imported goods arrive first.

Until now, among customers without an EDI agreement, those using air cargo could easily retrieve their goods as the import cargo delivery guarantee was sent to the shipping company via the EDI notification service. However, customers using maritime cargo had to send the paper import cargo delivery guarantee to the shipping company by fax or email to collect their cargo.

In September, Shinhan Bank agreed with Korea Trade Network, the national electronic trade infrastructure operator, to expand the EDI notification service to maritime cargo for customers without an EDI agreement to resolve this inconvenience for maritime cargo users.

Through this, import customers dealing with Shinhan Bank can now apply for the EDI notification service after issuing the import cargo delivery guarantee regardless of whether they use air or maritime cargo, even without an EDI agreement, greatly enhancing customer convenience.

A Shinhan Bank representative said, "With the expansion of the EDI notification service, customers using maritime cargo can conduct import and export operations more conveniently," adding, "We will continue to provide various trade-related financial services in line with Shinhan Financial Group’s vision of ‘Easier, More Comfortable, and Newer Finance’ to realize the convenience, stability, and innovation that customers expect from financial services."

This content was produced with the assistance of AI translation services.