Korea's largest B2B consortium launched

ENtoB Corporation, Korea's largest business-to-business e-commerce company, was launched Wednesday by a consortium of major Korean companies.

ENtoB Corporation, Korea's largest business-to-business e-commerce company, was launched Wednesday by a consortium of major Korean companies, Korea Telecom announced.

KOREA (JoongAng IIbo) - The major shareholders of the new firm include Pohang Iron & Steel Company, Korea Telecom, KT Freetel, Hanjin Corporation, Korean Airlines, Hyundai Electronics and Hyundai Corporation.

With capital of about 16 billion won (US$14.3 million), eNtoB plans to establish a comprehensive marketplace for the maintenance, repair and operation of equipment for all industrial sectors including machinery, communication, transportation, electronics and chemistry, according to Korea Telecom.

The new venture will open a Web site early next year to provide transaction, distribution, authentication and settlement services. The site will also provide business intelligence and host collaboration services.