This article provides a comprehensive guide to Korean SWIFT/BIC codes, detailing the definition, importance, and methods for finding SWIFT codes. It also addresses frequently asked questions related to international money transfers and offers practical remittance advice. The guide aims to help readers easily and securely conduct international remittances to Korea.
South Korea plans to revise the Electronic Commerce Act, requiring cross-border e-commerce platforms like Temu and AliExpress to appoint domestic agents in Korea to address consumer rights issues. The new regulations also cover consumer information protection and advertising standards, aiming to create a safer and more reliable cross-border e-commerce environment for Korean consumers. This may encourage cross-border e-commerce platforms to adopt a more localized approach in their operations within South Korea, enhancing consumer protection and ensuring compliance with local laws.
The Korea Customs Service (KCS) increased its contribution to the World Customs Organization (WCO) Language Fund, aiming to promote broader participation in WCO activities by customs administrations by overcoming language barriers through translation and interpretation services. Simultaneously, the WCO emphasizes the importance of digital transformation and data culture, encouraging members to leverage data-driven decision-making and build data ecosystems to enhance customs management efficiency and global trade facilitation. This initiative highlights the WCO's commitment to both inclusivity and modernization within the global customs community.
Temu is actively preparing to directly enter the South Korean market, including hiring local employees and building a comprehensive logistics system. Temu may also accelerate the launch of third-party seller-operated stores to address potential tax policy changes and enhance market competitiveness. This move signifies a strategic upgrade for Temu in the South Korean market.
For cross-border e-commerce sellers entering the Korean market, packaging is crucial in addition to product quality. Korean consumers value first impressions and aesthetics, so exquisite packaging can enhance goodwill and reduce the risk of negative reviews and returns. Sellers should choose high-quality materials, pay attention to detailed design, provide personalized services, and train packaging personnel to meet the specific needs of the Korean market. Investing in appealing and thoughtful packaging can significantly improve customer satisfaction and brand perception.
The World Customs Organization (WCO) has launched a new online learning module on customs valuation on its CLiKC! platform. This module aims to enhance the understanding and application of the WTO Valuation Agreement among global trade professionals. The course covers the six valuation methods and provides performance support tools. Funded by the Korea Customs Cooperation Fund, the English version is now available. This initiative will contribute to international trade development and improve customs valuation capabilities worldwide.
Gebrüder Weiss will establish a new country organization in Thailand in 2025 to strengthen its logistics network in Southeast Asia. This initiative aims to fill market gaps and provide customers with more direct connections to the Central Asia-Pacific market, while addressing the strong export demand.
This article provides a detailed guide on using SWIFT codes for Bank of Ayudhya (Krungthai Bank) in Thailand. It covers the appropriate use of the head office code, AYUDTHBKXXX, and explains how to find branch-specific codes. The guide also highlights important details to consider when making remittances to Thailand via Krungthai Bank. Key information about the bank is provided to help readers facilitate successful cross-border transfers and avoid remittance failures due to incorrect information.
Located in Thailand's Nonthaburi province, Bangkok Port serves as a vital transshipment hub connecting Thailand with Malaysia and Vietnam. With its strategic location and abundant fishery resources, the port plays a crucial role in the region's economic activities while also reflecting a rich cultural heritage. As industrial zones expand, the prospects for Bangkok Port have become even broader, establishing it as an important hub for international shipping.
Lazada Thailand achieved a revenue of 38 billion Thai Baht in 2022 and turned profitable, largely attributed to the contribution of Lazada Express. Facing challenges from competitors like Shopee's profitability strategies and reduced consumer spending, Lazada needs to optimize its operations, enhance user experience, and explore new growth opportunities. This is crucial for maintaining its competitive edge in the highly competitive Thai e-commerce market.
