HANJIN E-COMMERCE SUBSIDIARY TIES UP WITH PARTNERS

HANJIN E-COMMERCE SUBSIDIARY TIES UP WITH PARTNERS    CyberLogitec, the new e-commerce subsidiary of Hanjin Shipping, has signed a strategic business alliance with five other Internet and venture companies to establish an e-commerce logistics web site in Korea.
   Hanjin’s partners in the venture are Bolero.net, Cybertek Holdings, Equant, Hewlett Packard and Oracle.
   The site, LogisticsExch.net, will be “Korea’s first logistics
business-to- business/market-to-market e-commerce website,” a spokesman for Hanjin said.
   “The business tie-up is expected to lead efforts at improving the quality of logistics service as well as speeding up the introduction of the Internet to the shipping industry,” the company added.
   Under the business alliance, CyberLogitec will be in charge of marketing and will operate the new site using Oracle’s e-commerce solutions, to be launched in June.
   CyberLogitec will officially be launched on May 1 with some 200 founding staff members. Hanjin Shipping holds a 93-percent stake in the new company.