Korea Express pushes for IT business

Korea Express, under court receivership after soaking up debt from their parent company, Dong-Ah construction, made its way into the information technology (IT) business.

Korea Express formed KE Information and Technology to expand its e-commerce business and start a new system integration (SI) business. It appointed current CEO of Korea Express, Mr. Kwak Younguk, as CEO.

Korea Express revealed on May 7 that it established the KE information and Technology Corporation with an initial capital of 1.5 billion won, aiming for a "B2 all e-marketplace system expansion" as its main business. This company hopes to post 18 billion won in this year with SM (system management) and SI projects.

"As our internet shopping mall, korexmall (www.korexmall.co.kr) sold over 9 billion won last year, its first business year, we are now going to strengthen our B2B business with a subsidiary company this year. In addition, we are going to stay on top of SI logistics and distribution, based on our accumulated logistic know-how", a working official at the company revealed.

Meanwhile, Korea Express has developed an on-line transportation brokering system with Daewoo Information System Corp., and developed the programs for off-line systems such as container allocation systems. Thanks to these endeavors, Korea Express received the Grand Award for the information sector and Korean e-commerce business from the Ministry of Information and Communication, as well as the top award for website run logistics handling from the Korea Management Association.