LG CNS spins off AI-based customs solution developer

LG CNS said Thursday that its in-house unit Hempking -- launched in 2018 -- has been spun off after the success of its customs service system that utilizes artificial intelligence and robotic process automation technologies.

The newly developed solution can reduce the time required for customs clearance. Instead of the five hours it takes for a single item cargo the time can be cut down to five minutes, according to the company.

The AI-based computer program uses optical character reader to recognize inbound invoices and the information to RPA, which writes the information on customs-processing system.

According to the company, the current system has automated around 30 percent of the customs work. It aims to automatize the customs work 100 percent by the first half in 2021.

Hempking’s solution is currently used by around 1,000 companies, the clients of customs and auditing firm Sein.

LG CNS holds around 20 percent stake in the separate entity.

By Shim Woo-hyun (ws@heraldcorp.com)