e-Commerce
is not a new concept. For a decade, KTNET has provided EDI(electronic
data interchange) services to fulfill the automation of trade
procedure in Korea. However, EDI is relatively expensive for
many small and medium size companies. Today business can be
conducted in new ways that are more affordable. The Internet
has lowered the entry barriers to e-commerce. In 2000, the company
started new services through Internet.
These services made small and medium size companies deal trade
procedure electronically without purchasing any trade automation
software.
And further by integrating work-flows, the company has created
and
offered new collaborative EDI services through web.
But with
all these efforts, some works still remain off-line because
of it's regional limit. To overcome this limit and realized
the vision of KTNET
- end to end trade automation by eliminating the manual trade
processes among trading communities and countries, the company
has established corporate relationship with computerized trade
service providers. By collaborating with these partners, KTNET
trade automation services will be expanded to
"A global based computerized trading network" with
seamless full circulation
of the trading process.
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Pan-Asian
e-Commerce Alliance |
Five leading
Asian electronic trading networks established cross-border
partnership to work towards the development of secured and
trusted cross-border transactions. Members include 'Tradelink'
of Hong Kong, 'Trade-Van' of Taiwan, 'SNS' of Singapore, 'CIECC'
of China and 'KTNET' of Korea.
The following areas will be developed at the first stage.
Secure cross-border transaction services
This means document exchange for international trade will
be smooth and secured, enabling the user to apply for permits
electronically in participating countries with ease. Currently,
any trade-related document across the
borders are filed by hard copy, and transacted via mail or
fax.
Mutual recognition of public key infrastructure (PKI)
A study towards the setting up of a Certificate Policy Authority
will be commissioned as a framework for the mutual recognition
of PKI. An infrastructure to support both end-to-end digital
signatures as well as digital signatures between the service
providers will also be set up. A Singapore logistics company,
for example, will be able to file document claims
electronically through SNS to its shipping company in South
Korea through KTNet, with the necessary authentication, encryption
and digital certification that are recognized and accepted
by both local government authorities.
Establishment of Pan-Asian portal
A business portal is being developed by the Alliance. The
initial phase of the portal will promote connectivity between
buyers from overseas with
customers of the Alliance members through the consolidation
of key customer information including products and services.
Apart from trading, the portal will provide ready information
and leads on businesses for businesses in the Asia Pacific.
Web features such as information searches, credit rating of
businesses, e-commerce channels will also be made available
to any user.
With the implementation of the Pan-Asian Alliance projects,
Alliance partners are expecting to see a surge in the number
of transactions with regards of
its membership number. Total membership of the parties exceeds
115,000 organizations, representing almost every company in
the trading community
of the five markets. Currently, SNS has 25,000 members, Tradelink
53,000, Trade-Van 15,000, KTNET 12,000 and IITD has 10,000.
The great potential of this alliance can't be easily measured
for it will grow
to include other countries too.
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Korea-Japan
Computerized Trading Network |
By collaborating
with the TEDI project of Japan, which is an affiliate of JEF
(Japan Economic Foundation), trading between the two countries
will be computerized as their systems will be connected.
Korean and Japanese government made an agreement to encourage
the paperless trade by promoting the interoperability of two
systems - TEDI
and KTNET.
TEDI
The Trade and Settlement EDI System ("TEDI") is
a newly developed system
for the use of electronic data interchange to replace paper
documentation for use in international trade transactions.
TEDI has development the system and legal frame work. Exporters,
importers, carriers, banks, insurance and companies those
who engage in the trade related business have tested TEDI
system and evaluated the legal frame work from the practical
point of view. TEDI is now refining the system and preparing
for the service.
Purpose of the TEDI Club
In Japan, a large number of paper documents (up to forty per
transaction)
have routinely been exchanged between separated or associated
trading companies. These companies need to streamline and
expedite the trading business to complete transactions as
quickly as possible.
The main purpose of the EDI project for trade finance is to
reduce the time
and cost of trade business and increase international competitive
power by encouraging fewer paper documents and more electronic
documents that
can be exchanged over a safe and reliable network, transferring
data electronically rather than via paper documents.
A trading company will be able to effect reform and significant
streamlining
in its trade business by seamlessly integrating its official
or inter-company procedures into its in-house computing system
To adapt
to the new wave of computerized trade business, companies
need to change their traditional systems, revise traditional
conventions, establish new systems or rules or all of the
above. The TEDI Club is an organization that supports the
realization of EDI for trade finance through system and rule
maintenance and revision and through the promotion of standardization
for the member companies.
The TEDI Club always welcomes members from a variety of fields,
including shipping, banking and insurance, always moving towards
wider use of EDI
for trade business.
KTNET and ARINC have collaborated in order to serve forwarders,
airlines
and consignors around the world. Web Forwarder Link Plus has
been developed by combining Web Forward Link, a system which
is centered on Master B/L and CFOS (Cyber Freight Operation
System). In Web Forwarder
Link Plus, the connection in business purpose by Application
of Forwarder's House B/L unit along with information transmission
on the consignor has
been strengthened.
- Air cargo reservation, tracking, schedule reference of arrival/departure
- Drawing up of Master/ House AWB along with reference, print
out and adjustment can be made
- Bar Code Label System
International trade has traditionally been fraught with financial,
logistic and time inefficiencies, costing world business hundreds
of billions of dollars every year.
Created by the world's logistics and banking communities,
bolero.net is
getting rid of these inefficiencies by moving world trade
onto the Internet, allowing documents and data to be exchanged
online between all parties
in the trade chain. Bolero signed for collaboration with KTNET
in April 28th
2000 and establishment of a corporation in Korea associated
with KTNET is in progress.
bolero.net
offers:
Global buy-in
Seven out of the world's top ten banks have now signed up
to bolero.net,
as well as major trading houses such as Mitsui and Marubeni;
and carriers
such as K Line, Cosco and Evergreen.
Open platform
Unlike "proprietary" developments that force businesses
down one particular path, bolero.net is committed to providing
a neutral, open system.
This gives technology service suppliers to the logistics,
financial services and trading community a new market opportunity
to build "bolero.net enabled" products and solutions,
addressing specific trading needs.
Certainty
A ground-breaking, globally patented legal infrastructure
creates 'certainty'. Every member of the bolero.net community
is properly vetted and bound
by its structures.
Security
bolero.net matches and exceeds the comfort factor that businesses
currently have when conducting trade transactions by paper.
bolero.net's messaging system is operated by S.W.I.F.T, an
organisation that sets the gold standard for operational integrity.
bolero.net's services utilise the latest encryption technology,
messages arevalidated and a rigorous registration procedure
acts as the gatekeeper for prospective members of the bolero.net
community.
Information exchange
boleroxml is a validated, global, cross-industry XML standards
solution that allows all parties of a trade chain to seamlessly
"talk" to each other by automating their information
exchange.
- TradeCard
is a financial supply chain service provider. They offer a
single platform which hosts a suite of financial services
that enable virtually any
type of domestic or international trade transaction to be
initiated, tracking
and settled in an automated, collaborative environment.
- TradeCard
is currently offering domestic and international transaction
services within or between Hong Kong, Japan, Korea, Taiwan,
Singapore, Canada and the United States. The company expects
to expand services
to include buyers, sellers and service providers in China,
Western Europe
and Latin America by late 2001.
- KTNET operates TradeCard Call Center in Korea.
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