Hyundai Corporation and several other South Korean, Taiwanese and Singaporean companies have teamed up with BeXcom and plan to launch an e-hub, called BeXcom Korea, in the first quarter of 2001. This will be the fifth regional hub from San Diego-based BeXcom. Other regions include Greater China, Japan, Europe and the Americas.
The San Diego company holds 30 percent interest in the joint venture; two South Korean companies, Hyundai and Kolon Data Communication of the Kolon Group, each have 20 percent stake; while KG NextVision of Koos Group, and Singapore Technologies Telemedia each have 15 percent interest.
Both Hyundai and Kolon will use the system for their own e-procurement needs, progressively bringing suppliers online. B2B services to be provided by BeXcom Korea will enable Hyundai to transact with its thousands of suppliers more efficiently.
A key feature of BeXcom Korea will be its support for the Hangul character set. Korean companies will be able to conduct business in local script, said Voon Fee Yong, CEO and chairman, BeXcom. [The] system will automatically translate the text in the different languages of users located outside of Korea.
BeXcom established two other country-specific e-marketplaces earlier this year in Australia and Thailand.