KTNET, Global e-Trade Partner

Taking the lead in developing Korea into a world super-class e-Trade hub

E-Trade is shifting the global trade paradigm in the 21st century. Korea Trade Network (KTNET) is a pioneer of the new e-trade frontier, playing an essential role in paperless trade, seamless integration and trade competition.
KTNET, established in 1991 with the sole investments by the Korea International Trade Association, has been credited with a devotion to realize paperless trade and playing leading roles in reducing auxiliary trade expenses through digitalization of an EDI-type system and online distribution of about 300 kinds of export/import documents. About 18,000 e-Trade transactions are processed per annum.
KTNET is preparing a new dimension of diversified global e-Trade services, including the Pan-Asian e-Commerce Alliance (PAA), ASEM e-Trade Network and Northeast Asian GSCM (Global Supply Chain Management) platform. As an Internet-based e-Trade promoter, KTNET is also spearheading establishment of national trade infrastructure.
KTNET is an e-Trade hub institution of one of the world's biggest trade community comprising about 42,000 firms and trade-related organizations, including trading firms, banks, customs companies, shipping companies, insurers, airlines, forwarders and bonded sheds.
The e-Trade network, built jointly by KTNET and the Ministry of Commerce, Industry and Energy with 102.5 billion won worth of investments, has brought about remarkable economic benefits ― reducing 2.5 trillion won in trading firms'personnel costs, auxiliary expenses and IT investments.
A dramatic overhaul of the whole e-Trade process is expected to bring about an additional cost reduction worth 2 trillion won per annum, thus further contributing to improving trading companies'competitive edge in global markets.
Now that Korea has made history with an unprecedented $300 billion worth of exports, whose roles are likely to be carrying more significant weight on the domestic economy, KTNET's functions are to be expanded in the years to come more than ever before.
LAUNCHING OF 'PAPERLESS TRADE ERA.'Recognizing significance of e-Trade infrastructure. KTNET has declared a mid- and long-term vision "A Leap into a World Super-Class u-Trade Hub"through continuous upgrade of operation technologies of the national trade on-line network "u-Trade Hub"and seamless safety system buildup. KTNET has launched a plan to raise its corporate value up to some 500 billion won by 2011 by offering quality services to clients and accelerating the development of new projects based on the development of next-generation technologies.
KTNET aims to see the number of member trading companies surging from 42,000 to more than 100,000, the number of trade-related organizations climbing from current 70 to 149 and on-line trade transactions jumping to 800 million by 2011, taking the lead in the opening of a "paperless trade era."KTNET plans to focus on technology development and diversifying profit base to secure a stable financial structure, while working on the development of four growth engine projects, including RFID-based logistics buildup projects, public certification and global projects in a bid to dramatically raise its corporate value.
KTNET President-CEO Shin Dong-sik said, "KTNET will spare no efforts to position Korea as the world's super-class e-Trade hub, while it will make all-out efforts to make the e-Trade service provider a company that can offer an excitement to customers and gain trust from them." nw

(from left) The website of KTNET. KTNET President Shin Dong-shik and his staff make a resolution to achieve KTNET's vision and 2007 business goals during a rally at Korea Productivity Center Training Institute on Jan. 12. KTNET CEO Shin.