1. Review purpose
BGSP reviews companies to confirm that Sellers and Buyers are identifiable, authorized, reachable, and suitable for seafood trade workflows.
Approval means access to the platform role is allowed. It does not guarantee legal import/export eligibility, product compliance, tax treatment, or final deal completion.
2. Required information
- Korean corporations, Korean sole proprietors, foreign corporations, foreign sole proprietors, and partnerships may receive different identifier and document requirements.
- BGSP may request company registration, tax, customs, beneficial ownership, authorized signer, bank account, food/seafood certification, logistics, and settlement evidence.
- The applicant must provide complete, current, and truthful information and must have authority to submit the application on behalf of the company.
3. Review status
| Status | Meaning |
|---|---|
| Draft | The applicant is preparing company information and documents. |
| Submitted | The applicant has submitted required information for review. |
| Under review | BGSP is reviewing evidence and risk factors. |
| Need more info | BGSP requires additional or corrected information. |
| Approved | The company may use the approved Seller or Buyer role. |
| Rejected, restricted, or suspended | Access is denied or limited due to insufficient evidence, risk, legal request, policy breach, or expired evidence. |
4. Screening and risk review
BGSP may review sanctions, high-risk country links, politically exposed person or adverse media signals, document consistency, bank account ownership, business scope, and prior platform conduct.
Screening results are decision support. Final review decisions are recorded by BGSP operators and may require additional explanation or evidence from the applicant.
5. Corrections, refusal, and re-review
- BGSP may request corrections when documents are missing, expired, inconsistent, unreadable, or insufficient for the selected entity type.
- False documents, unauthorized applications, sanctions risk, payment risk, illegal trade risk, or repeated non-response may lead to rejection, restriction, or suspension.
- Approved companies may be re-reviewed when documents expire, ownership changes, risk signals arise, or legal or operational requirements change.