KTNET, Global e-Trade Partner

Envisions a world super-class e-Trade hub

Korea Trade Network (KTNET) is a leader in the frontier of a new e-Trade, playing an essential role in paperless trade, seamless integration and trade competition.
KTNET, established in 1991 with sole investment by the Korea International Trade Association, has been credited with its 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.
KTNET is upgrading the technologies and security systems for operating the national trade network so that trading companies can process trade-related operations ranging from the exploration of business partners to negotiations, settlement of payments, customs, tariff refunds and logistics.
KTNET is striving to achieve a growth with its client companies by providing the latter with services tailored to meet their needs without interruptions around the clock for 365 days. The company is accelerating its efforts to upgrade services and tap new businesses based on the development of the large-scale trade network and next-generation technologies with a goal of becoming a world-class corporation by 2011.
KTNET is an e-Trade hub institution of the trade community comprising about 42,000 client firms and 70 trade-related organizations, including trading firms, banks, customs companies, shipping companies, insurers, airlines, forwarders and bonded sheds. The company aims to reposition itself as one of the world's largest trade communities by raising the number of client companies and relevant trade organizations by 100,000 and 149 by 2011, respectively. In that case, KTNET will contribute to the realization of a "full-fledged paperless trade era"as KTNET will see the number of on-line trade transactions surging from the current 180 million cases to 800 million.
KTNET President & CEO Shin Dong-sik said, "KTNET needs to innovate itself to meet customer demands while adapting to market changes and international trends.
"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.
The company has a strong point of processing e-documents at a price of 220 won to 330 won per kilobyte, quite lower compared to 550 won to 660 won in the United States, Japan and Europe. If KTNET's vision is realized, e-Document processing fees will be lowered further, KTNET officials say.
Less than four months after taking the helm at KTNET, CEO Shin came up with blitzkriegs - declaration of a "world-class e-Trade hub vision,"designed to implement the details of long-term strategies last October and a massive reorganization focusing on support for customers.
A ranking government official-turned CEO, KTNET President Shin has been toiling and sweating to work out the vision and the roadmap for its implementation. Shin was in intensive discussions about ways to ensure organizational innovations with his officers and staff members into the wee hours for two days last September in the Muju Resort. Shin took office as KTNET CEO last July after finishing a 27-year-old career at the Ministry of Commerce, Industry and Energy.
Korea Industrial Complex Corp. has become the first company to receive services from KTNET's e-Document depository.
Occupants of industrial estates operated by KICOX are able to be issued all documents, including occupant's document, from KICOX's in-house EIS system and e-Cluster homepage, which are linked with KTNET's official e-Document depository, DocuOn. KTNET has been designed as the first official e-Document depository.
Business sources said KTNET and KL-Net's joint efforts to export Korean-own developed e-Trade and logistics platforms and solutions to such counties as Asia and Europe are expected to pay off soon.
KTNET and KL-Net are likely to become Korea's first companies to export Korean-own e-Trade and logistics platforms and solutions to such counties as Mongolia, Vietnam, Azerbaizan and Khazkhstan, which are considering introducing the Korean systems, they said. nw

KTNET President & CEO Shin Dong-sik