Following the substantial Korea-Japan export/import transaction channel (Hyundai Motor - Mistubishi), a world first, recently Korea has been conducting on an e-trade system test with Germany between Hyundai Motor and Bosch. KTNET, Korea's e-trade-specialized firm, is also studying ways to establish a Korea-Bulgaria e-trade network, and is promoting enterprise-to-enterprise networking with EU countries such as England and Spain.

Reportedly from 2003, Korea is scheduled to promote actual e-trade transactions with Siemens, securing hundreds of cooperation firms and transaction networks, raising prospects that Korea-led nation-to-nation e-trade will continue to expand.

Such moves, in particular, are expected to create added value following the formation of future markets and reflection of domestic infrastructure in the world markets as Korean projects are being realised before various international e-trade-related systems such as global document standards, certification, security and legal framework are firmly established.

In December 2002, e-trade transactions began between Hyundai Motor and its local Japanese suppliers opened. To achieve this, in early December, the Ministry of Commerce, Industry and Energy and KTNET had a meeting with Japanese government officials and the e-trade business firm, TEDI, and agreed to establish e-trade between Hyundai and about 180 Japanese suppliers. The officials of the two governments also agreed on the methodology for linking a joint e-trade document system, establishment of e-document standards and mutual CA recognition so that a paperless e-trade foundation was laid for export/import activities between Hyundai and its Japanese business partners starting from early this year. This is considered significant in that Korea has achieved a momentum to proceed with paperless trade with Japan, Korea's third largest trading partner, accounting for 11% of its total global trade.

Also for the Korea-EU e-trade network project, the Ministry of Commerce, Industry and Energy (MOCIE), KTNET/Hyundai Motor discussed ways to realize the exchange of three e-documents - invoice, packing list and shipping advice - between Hyundai and Bosch, together with interlinking work between Hyundai Motor and Siemens. Korea and the EU are reportedly scheduled to establish a government-level committee to study mutual recognition of legal and systematic procedures related to e-trade. In addition, MOCIE and KTNET also plan to discuss with the EU executive body detailed methods for preparatory work for e-trade with EU member countries.

A related ministry official explained, "Since Korea led the first nation-to-nation e-trade linkage, all verification tests have done between member countries of PAA (Pan Asian e-Commerce Alliance) up to now. Continued inter-nation linkage projects will provide an opportunity for Korea to take the initiative in global e-trade."