News: Trade

Founded in 1991, KTNET is Korea's leading provider of electronic data interchange (EDI) services and a pioneer in trade automation. The company provides services to a wide range of organizations including importers and exporters, logistics providers, insurance companies, as well as customs and excise service providers. Under the new agreement with GXS, KTNET will boost the global competitiveness of South Korean businesses by connecting its local trading platform to the GXS Trading Grid.

KTNET, seeking to offer customers a more diversified base of standards and protocols for conducting B2B e-commerce, selected GXS because of the company's experience in providing scalable B2B e-commerce solutions in the Asia-Pacific region and the reliability and reach of the GXS Trading Grid network. GXS' global range enables KTNET to support its customers'worldwide trade initiatives with foreign trading partners, an essential capability in today's global economy.

"Global companies have increasingly sophisticated needs when it comes to seamless, cross-border B2B e-commerce. With South Korea's emergence as Northeast Asia's electronic trading gateway, these businesses must have access to sophisticated, cutting-edge B2B e-commerce solutions in this region," said Shin Dong-Sik, CEO of KTNET. "The GXS Trading Grid, the most advanced global trading platform, already serves 75 percent of Fortune 500 businesses and represents a primary resource to support global trading operations. We are confident in our selection of the GXS Trading Grid to complement the range of technology and B2B e-commerce solutions we provide our customer base."

The GXS Trading Grid is a global B2B e-commerce and integration platform that supports the creation and adoption of on-demand supply chain management solutions for companies of any size. As the world's largest electronic business community, GXS Trading Grid is used by more than 40,000 customers to exchange goods and services, gain visibility into global logistics operations and to synchronize product data. Trading Grid helps customers automate global trading communities by shielding complexity from rapidly changing standards, eliminating manual and duplicative processes and enabling the highest levels of B2B integration and collaboration.

"KTNET is Korea's B2B e-commerce market leader. It supports the 'who's who' of Korean businesses in virtually every business sector," said Raymond Teh, vice president of Asia-Pacific Sales at GXS. "GXS Trading Grid offers a single communications solution for trading partners that use different transfer protocols and data formats for B2B e-commerce and document exchange. By linking its national trading infrastructure with our global trading platform, KTNET is shielding those customers from complexity while simultaneously driving value across their businesses today and the future,while minimizing costs."

GXS Trading Grid is a globally-accessible, real-time platform for business process networking. Through direct integration with the GXS Trading Grid, both large and small customers can extend existing ERP investments and cost- effectively achieve new levels of collaboration and business success.