Over 50 companies including KTNET, the national electronic trade infrastructure and service provider, VAN operators in trade, logistics and distribution sectors, e-business solution providers including XML, B2Bi and e-marketplace enterprises came together to form the tentatively named "Solution Council for Electronic Trade."

This move came from the demand that electronic trade controlled by the government and dominant operators be extended to the B2B sector following the establishment of basic infrastructure. Accordingly, this council will serve as a permanent body to build on the achievements of the existing electronic trade infrastructure and find ways to put it to the best practical use with related organizations and solution providers.

As the lead B2B e-marketplace companies as well as related technology and solution providers are participating in the council, electronic trade will become more prevalent in international e-market transactions. Moreover the council is expected to devise measures to develop and distribute e-commerce solutions for the B2B business community as well as off-line companies.

In particular, trade e-marketplaces that have provided basic services such as customer development, contract formulation and market surveys will upgrade their scope of work to that of trade portals, encompassing L/C issuance, export-import goods declaration, etc.

With regard to the launch of the private council, business experts responded that it is significant in that private groups are advancing into the electronic trade area previously dominated by government. They expect this to facilitate the emergence of general corporations as new customers for solution providers.

A MOCIE official said that the private council would be one of the key players to extend off-line electronic trade.