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SEOUL, September 3, 2001 - Chohung Bank today announced that it will formally launch TradeCard's patented, Internet-based trade transaction service tomorrow, September 4. TradeCard is the world's leading online trade settlement system provider, and Chohung Bank is the first Korean Bank to offer their service.
Through the Chohung Bank's online financial services, Korean companies which use the TradeCard network will be able to realize greater efficiencies in the trade transaction process, and improve their potential for profitability as a result.
TradeCard, Inc. was conceived by the WTCA in 1994 and was formally established in 1997. TradeCard's secure transaction infrastructure greatly reduces the inefficiencies and uncertainties found in traditional domestic and cross-border trade transaction processes. By streamlining and enhancing the steps necessary for purchase order approvals, payment decisions and settlement, TradeCard provides a cost-effective, practical and patented service for financial supply chain management.
