A memorandum of agreement was signed last week between both parties to jointly develop a declaration status and tracking module so that traders from both countries can track a particular consignment.

A project plan is expected to be drafted soon and the estimated timeframe for the system to ;go 'live' is as early as June.

The alliance will also enable users such as forwarding agents to re-use data originating from the source country, thus reducing or eliminating duplication of data entry.

"This will further improve data accuracy and reduce errors as well as serve as an effective and efficient platform for users to check the status of their consignment via a common tracking window," said Dagang Net in a statement.

A common unique reference number system will be established to enhance tracking of cargo and documents for the Customs and forwarders in South Korea and Malaysia, linking the two.

Dagang Net chief executive officer Saifol Bahri Shamlan said the collaboration would enhance trade using information, communication and technology by developing value-added services.

"It demonstrates Dagang Net's continued support to the fast-growing international trade and logistics value chain," he said.

After South Korea, other countries targeted for future tie-ups include Cambodia, Myanmar, Vietnam, Laos, Pakistan and Nigeria.

The agreement was signed by Dagang Net chairman Datuk Syed Muhamad Abdul Kadir while KTNET was represented by its chief executive officer and president Shin Dong-Oh.