Tool & Tools is a leading firm in the tool business field for the second-phase B2B model project of the Ministry of Commerce, Industry and Energy (MOCIE).

The amount involved in the transactions was about 26 million won. With the access by Japanese firms to Tool & Tools' tool eAMP (www.ontool.co.kr), business transactions, from quotations for products to placement of orders, can be processed online. Payments, logistics, etc., however, are handled offline.

eAMP is an e-commerce project between Korea and Japan that has been underway since 2000. China also has expressed its intention to join the project. At present, four business sectors, tools, machinery, moulds and fasteners, are included in eAMP, and four more business sectors will be added by the end of May, electronics, precision chemicals, utilities, etc.

KALS Executive Director Lee Young-Shik said that his association will grow the Korea-Japan eAMP into a representative Northeast Asian e-marketplace at an early date by resolving matters related to payment system, etc., commenting that he believes the project will succeed, although it is still in the initial stage.