For doing business in any country, entrepreneurs & startups need to understand the land’s policies and regulations. It can be followed through multiple sources like news, market performance, various government reports, etc. But Korean startup founder & global policy expert Ji-Eun Chung decided to create a one-stop solution for all seeking information on policy and legal data through her startup platform Codit.
Codify Law, regulation documents from various countries
Codit is a platform that provides legal and policy data information service, which enables the business world to have a better understanding of government affairs. Powered by Artificial Intelligence, CODIT serves as a hub of comprehensive information about governments, including the United States, South Korea and Singapore.
The platform provides information such as bill information, search for members of the National Assembly, and an integrated inquiry system for policies and bills by topic (real estate, Corona 19). Because it crawls information in real time, it is also useful for companies to monitor changed policy information. It is currently operating as a beta version, and will add data such as laws, enforcement ordinances, precedents, ordinances, and treaties. The platform has a wide range of highly engaged clients and has been covered and followed by mainstream news outlets.
Codit is also building data for AI learning in the fields of policy and Law. Through AI learning using data, the contents of the bill and policy documents can be analyzed. They can be used to predict the future and direction of various pending issues, punishment, and fines.
Decode Policy service
Codit launched the decode policy service in the 2020 general elections in South Korea to allow voters to search for election candidates and political parties. The service provided detailed information of the election by merely searching for the political candidate’s name, the region you live in, or checking the detailed matching information. Decode policy allows you to see the pledges of the parties by clicking on your area of interest.
According to Codit CEO Jeong Ji-Eun, “Decode Policy is a policy platform that tracks and predicts changes in regulations or policies by integrating policy-related data such as legislative information, lawmaker information, and news. Codit has collected and classified information on agendas for the current 20 years and analyzed related news for eight years.”
Decode policy service is also suitable for the real estate and finance sectors, which are the most affected by government legislation. The Decode Policy platform also provides translation services. Moreover, connecting with policy experts is also easy. There is a trial with the Decode policy’s beta version, where information shows the policies and legislation related to real estate, which is updated daily to keep you informed.
Wants to become ‘Google’ for Korean political data
Codit was founded in June 2020 by CEO Ji-Eun Chung who has conducted policy analysis and national advisory work at the OECD and UNESCO, for over 12 years. Codit team consists of experts in policies and technology, operations. The company’s seed investment comes from early startup investment firm Mashup Angels.
“I want to become a company like Google in the politics and policy sectors. Once I start writing Google, I don’t use search portals other than Google. In the politics and policy sector, it is more accurate and convenient than Google. We want to create a platform that can be used conveniently.”
The startup plans to launch a global policy platform (Decode policy Service), which will give institutions and companies freedom to access customized regulatory, legislative and government audits through data analysis. The decode policy service will have information on policies from Korea and other countries in Europe, Asia, and America. Codit believes that it can sufficiently grow to reach the global stage to becoming the best. With more than 150 million in secured funding, the startup is set to create a readily accessible platform, just like Google, to code the law.
AI Research Center for Law, Regulation, and Policy
CODIT announced in February 2021 that it has received approval from the Korea Industrial Technology Association to launch a company-affiliated research center. With the newly established research center, CODIT plans to conduct more research on its curated recommendation system based on search keyword extractions. It also aims to accelerate the development of its artificial intelligence (AI) technology for legal and policy sectors. Lee Hee-joon, Chief Technology Officer at CODIT, will be leading the center that carries out research projects on AI-powered analysis of laws and policies. The center had already obtained three patents in South Korea before its official establishment and now aims to obtain international patents.
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