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Title Global B2B Site Based on Auction to Export Idle and Surplus Assets?
Source Korea Economic Daily Date
Global B2B Site Based on Auction to Export Idle and Surplus Assets?
SurplusGLOBAL, Inc. will start the services on June 28, 2000.

Korea Economic Daily June 23, 2000

An Internet site offering a breakthrough auction system for trading companies selling their idle and surplus assets is scheduled to emerge in the e-marketplace.

Today, SurplusGLOBAL, Inc. (CEO Bruce Jungwoong Kim) announced that the company has operated an English Beta-version of global B2B site (URL: based on auction system. The company will start providing their services on June 28, 2000.

The company aims to promote its site as a go-between for buyers and sellers all over the world who want to get the best deal for their idle and surplus assets using various auction systems such as standard auctions, `First Come Served Basis?, demand driven auction and so on.

Whenever a member-trade company posts its idle or surplus assets on this site, SurplusGLOBAL, Inc. will directly send information on the item to more than 30,000 buyers all over the world through fax and e-mail. The company continually adds to this database to strengthen its marketing efforts.

Upon utilizing these services, an export trader can expand his scope of business partners from a few acquaintances to an unlimited number of buyers all over the world. The competition will also enable the seller to get the best price for his items.

For the import trader, there is an easier access to information and location of required idle and surplus assets for him to immediately communicate with a proper supplier on these products. Therefore, the importer can procure his demanded items on time.

Specialists from various industries make up the core group at SurplusGLOBAL to efficiently provide these services. This group of specialists include CEO, Mr. Bruce Jungwoong Kim who garnered his expertise on Internet Trade by specializing as an Officer of Aiding Trade with many trading companies in Chungchung Nam Do (South Chungchung Province) in Korea.

Moreover the company has set into place the training of all its members on pertinent information required for transactions such as evaluation system on foreign dealers and inspection services. These training modules will be conducted in alliance with world-famous professional inspection companies.

Mr. Bruce Jungwoong Kim said, ?We started these services to enhance the efficiency of transaction in the market of idle and surplus assets which is currently dispersed and limited by categories of region and industries. By adopting a B2B international-based marketplace, we hope to attain more efficiency for the system, thus giving more benefits to both buyers and sellers. ?

Reporter Taehyung Song (