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Title SurplusGLOBAL, Inc.,s Ideal Standard System for the B2B market receives rave reviews
Source The Electronic Times Date

SurplusGLOBAL, Inc.?s Ideal Standard System for the B2B market receives rave reviews

The Electronic Times July 20, 2000

Despite the booming e-market place, a lot of business has difficulty maximizing the new medium?s potential for their company?s growth. Thus, the launch of SurplusGLOBAL and its breakthrough service received rave reviews and now commands much attention in the industry.

SurplusGLOBAL, Inc (URL:, CEO: Bruce Jungwoong Kim), which started operations last June 28 has made available breakthrough services specializing in the B2B auction of idle and surplus assets in the e-marketplace. Last July 19, the company announced that so far, it has attracted 1000 business partners and customers from 50 countries. There are currently 490 posted items worth 60 million US dollars available on site.

Ten (10) items are in the process of bidding., while three (3) transactions were successfully completed. The first three auctioned items that the company successfully bidded consist of used monitors, computer parts and mink blankets with a value of 270 thousand US dollars.

A majority of posted items include tools for machinery, heavy construction equipment, computer parts and supplies, clothing and electronic equipment. Rare items such as a 1940?s Ford and large locomotives have also attracted considerable attention among buyers.

Mr. Kim, CEO of SurplusGLOBAL said, ?The company is out to improve the inefficient distribution structure of existing idle and surplus assets markets within the shortest period of time. We plan to do this through our revolutionary on-line systems. We are also continuously developing a faster communication system so both potential buyers and sellers can have easy access to the latest information on the ongoing transactions and price trends.?

Reporter Kyungdong Yoo