`Cyberspace for Int'l Trade' to Debut in Next March

Korea Times (Seoul, Korea), April 4, 1999 | Go to article overview

`Cyberspace for Int'l Trade' to Debut in Next March


A ``cyberspace for international trade'' will be built in March next year for exports and purchase-related deals on the Internet, the Ministry of Commerce, Industry and Energy said yesterday.

Timed with the opening of the special Internet site, the ministry, in coordination with the Korea Trade-Investment Promotion Agency (KOTRA), will hold a trade fair called ``Cyber Silk Road 2000'' next March, an official said.

The fair organizers will invite about 30,000 business firms and 10,000 foreign buyers to participate in the event, he said.

These are part of the ministry's measures to help small and medium enterprises effectively market their products on the Internet.

``The event is designed to give on-line business people access to the Korea export portal site,'' the official said.

The projected network will serve as an Internet trading expo to allow access to all sorts of information related to international trade, including credit information on business firms provided by the Korea Export Insurance Corp., he said.

The ministry will ensure that trade-related agencies, including KOTRA, pool all of their information on international trade within the year.

To help the small and medium business people become Internet-savvy, the Small and Medium Enterprises Promotion Corporation will compile and edit an e-catalogue for small businesses and produce homepages for them at no charge.

KOTRA, the Korea International Trade Association and the general trading companies under the wing of the conglomerates, once they are linked under the integrated service, will each target different sectors and charge users a minimum fee. Meanwhile, the ministry will shoulder part of the financial burden.

The KOTRA site sheds light on the data on prospective buyers whereas the KITA site specializes in local manufacturers and product information. …

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