A Study on the Implementation of eUCP Version 2.0 and the Digital Transformation of International Trade Finance

This study analyzes the structural framework and legal implications of eUCP Version 2.0, focusing on how its key provisions—particularly Articles e3, e5, e7, and e11—establish the authenticity, integrity, and legal reliability of electronic records in electronic letters of credit (e-L/Cs). The research examines the procedures for electronic presentation, completeness notifications, and resubmission in cases of data corruption, showing how eUCP 2.0 reshapes documentary examination standards in digital trade environments.<br/> Practical applications—including HSBC's first eUCP 2.0 transaction, Contour's automated completeness notification via smart contracts, Komgo's data-corruption resubmission system, and Bolero's electronic bills of lading—demonstrate that eUCP 2.0 is technologically feasible and enhances efficiency and transparency in trade finance operations.<br/> A comparison between Singapore's MLETR-based framework and Korea's limited adoption of e-L/Cs reveals persistent constraints such as regulatory inconsistency, platform interoperability gaps, and unclear risk allocation. The study contributes to the literature by clarifying the legal-technical foundation of eUCP 2.0 and by identifying the institutional conditions—such as mutual recognition mechanisms and data standardization—necessary for its broader global adoption.