Sunbury, United Kingdom — September 12, 2006 — GXS™, a leading provider of business-to-business (B2B) e-commerce solutions, today announced that KTNET, the largest trading community in South Korea, has selected GXS Trading Grid® to facilitate global B2B transactions for its 34,000 customers. 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 organisations 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. “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 synchronise 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 collabouration. 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.
“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 minimising 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 collabouration and business success.
KTNET has played a key role in the enhancement of Korea’s trade competitiveness for the past 10 years. Since its foundation in 1991, KTNET has provided EDI-style trade automation services to reduce trade processing time and expenses significantly for trade business circles, leading to productivity enhancement and subsequent reinforcement of competitiveness.
KTNET is also strengthening its business potential in order to realise one-stop e-trade service for domestic and overseas trade communities, including establishment of e-trade infrastructure and development of solutions, and global e-trade networking projects.
GXS is a leading global provider of B2B e-commerce solutions that simplify and enhance business process integration and collabouration among trading partners. Organisations worldwide, including 75 percent of the Fortune 500, leverage the GXS Trading Grid® to optimise and accelerate the execution of supply and demand chains. GXS serves businesses in the high tech, automotive, retail, consumer packaged goods and financial services industries. These businesses leverage GXS’ on-demand supply chain solutions to extend supply networks, optimise product launches, automate warehouse receiving and gain supply chain visibility.
Headquartered in Gaithersburg, Md., GXS provides sales and support to businesses and their trading partners worldwide. For more information visit our Web site at www.gxs.com.
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