CODIT: Revolutionizing Information with AI Technology
In today’s rapidly evolving world, staying informed and knowledgeable about the latest government-related policies and regulations is essential. Recognizing this need, South Korean start-up CODIT was formed to help institutions and individuals remain up-to-date on legislative changes, policy trends, and stakeholder developments. Using AI and big data technology, CODIT revolutionizes how information is accessed and analyzed.
Established in June 2020, CEO Jeong Ji-eun formed CODIT after working as a policy analyst and completing national advisory work at OECD and UNESCO for over 12 years, seeing the need for streamlined information for Korea’s changing laws and policies. Chung wanted to create an accurate and convenient platform for individuals in the political and policy sectors to obtain information in one comprehensive database.
Through the CODIT platform, individuals and companies access valuable resources, including bill contents, issues, and relevant legal and policy data on government affairs. The information is customized and recommended to fit the user’s unique needs. Users can also receive minute-by-minute updates on the progress and implementation of bills and insights into deliberations by lawmakers during plenary sessions, standing committees, or parliamentary audits.
The operating system is powered by AI and holds extensive information about worldwide governments from Europe, Asia, and America. After analyzing bills and policy documents via artificial intelligence, the platform can predict potential outcomes, directions, and ramifications of pending government issues, punishments, and fines. These features support companies in managing regulatory and policy risks based on the system’s predictions.
The platform's knowledge is unparalleled, with an archive of over 100 million data, including 23 years worth of bills and National Assembly member data, 12 years of news, and 15 years of policy data. The comprehensive knowledge also supports new businesses and start-ups in identifying relevant regulations, analyzing legal provisions, and preparing for patent applications.
CODIT's impact expands beyond individuals and supports local governments and communities. A representative of the GovTech (Government + Technology) industry, one of the core industries of the digital platform government, the company has also been able to forge partnerships with the local government of Hwaseong City to use their services to facilitate responses to tasks in the National Assembly and central ministries.
The business also collaborates with renowned academic institutions, such as the Graduate School of Public Administration at Seoul National University and the Legislative Center of Gyeongin National University of Education, to further joint legislative policy research and education cooperation. Using its unique machine translation technology, CODIT ensures legislative bills, press releases, and National Assembly minutes are translated and accessible to global audiences.
Despite being a start-up, CODIT has attracted a pre-series A investment of KRW 5 billion in 2022 from Atinum Investment and Premier Partners for its growth potential and business feasibility (Money Today). Within two years, CODIT has acquired over 1,000 clients, including global conglomerates, big tech companies, government institutions, the National Assembly, and unicorn start-ups. It has also secured five patents on core technology for providing legal and regulatory information since established.
The company is globally recognized for its achievements. It received the Innovation in Digitalization prize from the Korean-German Chamber of Commerce’s ‘8th KGCCI Innovation Awards in 2022, which showcased innovative products, technologies, and business strategies.
As the only platform in Korea that manages regulatory and policy risks via project management software, CODIT has revolutionized how to access and analyze legislative information. Using the power of AI and big data technology, CODIT’s knowledge base can be used to simplify the understanding of complex information. Already growing, there is no doubt the company will continue to drive innovation and globally support corporations and individuals to navigate the dynamic legislative landscapes.
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