According to the report of "Economic Effects of Trade Automation Project" prepared by Hyundai Research Institute in Feb. 2006, benefits to the economy from paperless trade reached US$2.08 billion annually.
Economic Effects of Trade Automation
(by Hyundai Economic Reserch Institute, Feb 2006)
Economic Effect of Trade Automation
| Effectiveness |
Details |
US$
2.26 billion |
- Improvements in productivity: US$267.9 million (11.4%)
- Cost-saving from additional expenses: US$1.9 billion
- Cost-saving from eliminating duplication of IT investment: US$163.4 million
- Subscription fee (from users) for trade automation service: △US$ 82.8 million |
Trade expense savings through paperless trade reached a total of US$ 5.45 billion annually, according to a survey report by the Institute for International Trade (IIT) of Korea International Trade Association (KITA) on 'Greenization of Trade Procedures, Analysis of Economic Effects of Paperless Trade.'
Greenzation of Trade Produres, Analysis of Economic Effects of Paperless Trade
( by Institue for International Trade of KiTA, Dec.2010 )
Greenzation of Trade Produres, Analysis of Economic Effects of Paperless Trade
| Effectiveness |
Details |
US$
5.42 billion |
- Labor cost reduction: US$ 2.3 billion
- Transportation/communications cost reduction: US$ 203.8 million
- Trade auxiliary expenses reduction: US$ 3.0 billion
- Reduction in bank charges, paper and other expenses : US$ 71.2 million
- Investment costs for paperless trade system: △ US$ 149.8 million |