Korea World Trade Centers Association Selects GeoTrust Corporate Identity Service for International B2B Marketplace.Business Editors/Technology Writers BOSTON--(BUSINESS WIRE)--May 7, 2001 GeoTrust's Service Adopted by TradePro to Ensure Safe and Efficient B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business Transactions for Korea's Estimated 30,000 Export Focused Enterprises GeoTrust, Inc. (www.geotrust.com), solving the problem of identity, authenticity The correct attribution of origin such as the authorship of an e-mail message or the correct description of information such as a data field that is properly named. Authenticity is one of the six fundamental components of information security (see Parkerian Hexad). , and risk assessment in business-to-business trading, today announced a new Korean-based b-to-b exchange has adopted its global authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. services to power business transactions on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the . The Korean exchange, TradePro (tradepro.kwtca.org) is poised to serve the 30,000 members of the Korea World Trade Centers Association and other international trading markets. "As companies continue to move business transactions online, they are realizing the basic need to identify, authenticate (1) To verify (guarantee) the identity of a person or company. To ensure that the individual or organization is really who it says it is. See authentication and digital certificate. (2) To verify (guarantee) that data has not been altered. and qualify trading partners is critical," said GeoTrust CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Neal Creighton. "There is an inherent risk in trading online because you don't always know who you are doing business with. For TradePro customers, GeoTrust is removing that risk," added Creighton. Members signing up for TradePro will be authenticated au·then·ti·cate tr.v. au·then·ti·cat·ed, au·then·ti·cat·ing, au·then·ti·cates To establish the authenticity of; prove genuine: a specialist who authenticated the antique samovar. by GeoTrust and be issued True Credentials CREDENTIALS, international law. The instruments which authorize and establish a public minister in his character with the state or prince to whom they are addressed. If the state or prince receive the minister, he can be received only in the quality attributed to him in his credentials. (TM). True Credentials are corporate identities that establish the authenticity of a company and provide a complete summary of its business practices, credit worthiness and past performance. "The Korean business community recognizes the significant identity challenges companies face while trading in online exchanges," said David Lee David Lee may refer to:
WTCA Wood Truss Council of America (Madison, Wisconsin) WTCA Welsh Terrier Club of America WTCA Water Terminal Clearance Authority WTCA West Texas Cycling Association (Lubbock, TX) . "The addition of GeoTrust's identity service will give companies confidence to complete business online with partners from around the world," he said. "We formed TradePro to give Korea World Trade Center members a trusted place to conduct business and find qualified trading partners worldwide," said Lee. "By registering and authenticating TradePro members through GeoTrust's services before they are allowed onto the exchange, we greatly reduce the risks now associated with online transactions." GeoTrust lets companies conduct an online performance history check of potential trading partners, and gives instant access to transaction insurance and online credit approval or financing. Built upon a comprehensive collection of participant-disclosed, third-party data and transaction feedback, the GeoTrust True Credentials lets trading partners, financial service providers and other e-services assess the risk of entering an online transaction. TradePro is operated by World Trade Center InfoTech, Inc (WTCIT), a member of the World Trade Centers Association. TradePro is a global export-oriented trading e-marketplace that integrates valuable services for its trading members such as risk management, dispute resolution, financial settlement, business travel services, and an online education program as well as other business related services. The Korea World Trade Center Association will take the central role in the e-marketplace in Korea by integrating competitive on-line trade services such as TradePro and off-line trade facilities such as local World Trade Centers. The Korea World Trade Center Association's 30,000 membership base is drawn largely from existing regional world trade centers in Korea such as Seoul WTC WTC World Trade Center, see there , Taegu WTC and Inchon WTC. Its membership includes more than 300 World Trade Centers (WTCs) in 100 countries. About GeoTrust, Inc. GeoTrust Inc. is a leader in the emerging field of online trust. With its suite of services and strategic alliance partnerships, the company reduces the risk within b-to-b digital marketplaces by providing buyers and sellers with instant access to a participant's online identity in b-to-b transactions. Built upon a comprehensive collection of participant-disclosed, third-party data and transaction feedback that encompasses business policies, practices and performance history, these True Credentials value the risk of entering an on-line transaction for trading partners. About WTC InfoTech, Inc. (WTCIT) WTCIT is a holding company of WTC University Korea, Inc and TradeCard Korea, Inc and operates WTC Business Tourism for international traders Traders Individuals who take positions in securities and their derivatives with the objective of making profits. Traders can make markets by trading the flow. When they do this, their objective is to earn the bid/ask spread. in Korea. WTC University, an international online education and training center, offers distant learning courses to international traders, colleges and adults via Internet. TradeCard, an online B2B financial settlement service, offers secure payment environment to buyers and sellersworldwide. WTC Business Tourism, offered with the name of TourismNow as a brand name, is a customized travel service program designed for the need of international traders. It will provide the benefits of convenient travel arrangement and reduce travel costs provided by a professional organization with the highest standards of customer service. WTCIT also operates TradePro - one stop trade service http://www.wtcit.co.kr, http://www.wtcu.co.kr or http://www.wtcu.org, http://www.tradecard.co.kr or http://www.tradecard. About TradePro TradePro aims to increase corporate productivity and transaction by helping to utilize and maximize the benefits of virtual 3D-Booth exhibition and related solutions for trade. By forming an online organization to promote a relationship among KWTCA and other trade members around the world, we will stimulate business growth and profitability. Access to international resources, transaction facilitated by technology's most current means of communications, contact information, market studies and all other aspects of domestic and international trade will be made available to KWTCA members and other potential members. Our development is a dynamic site enabling members to represent their company in a myriad Myriad is a classical Greek name for the number 104 = 10 000. In modern English the word refers to an unspecified large quantity. The term myriad is a progression in the commonly used system of describing numbers using tens and hundreds. of media flexible enough to quickly change with growing demands of their trade.TradePro is an Internet-based business that markets and merchandises a broad range of products and services for buyers and sellers around the world. The explosion of the Internet provides an unprecedented opportunity to widen wid·en tr. & intr.v. wid·ened, wid·en·ing, wid·ens To make or become wide or wider. wid  en·er n. the companies' sphere of influence by providing a powerful way to communicate with their clients. www.kwtca.org About Korea World Trade Centers Association (KWTCA) KWTCA, Korea World Trade Centers Association, is a not-for-profit Not-for-profit An organization established for charitable, humanitarian, or educational purposes that is exempt from some taxes and in which no one in profits or losses. , non-political business association that is officially authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: by WTCA in consideration of the political situation on the Korean Peninsula A peninsula is a piece of land that is bordered on three sides by water. A peninsula can also be a headland, cape, island promontory, bill, point, or spit.[1] Europe
KWTCA membership consists of Seoul WTC, Busan WTC, Masan WTC, Kwangju WTC, Taegu WTC, Inchon WTC, Taejon WTC, Pyongyang WTC, Rajin-Sunbong WTC and Gaesung WTC, which will be the active economic center for each region. Specifically, Seoul WTC -- one of KWTCA members operated by KITA, has had a key role fostering the Korean export industry for the several decades. The mission of KWTCA is to lead an economic community by boosting mutual economic dependence beyond the political border between South Korea and North Korea. (http://www.kwtca.org) |
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