XML/EDI Service Begins for the First Time

KT-Net and the Korea Exchange Bank started to offer an L/C (Letter of
Credit) notification on August 10th using XML/EDI (eXtensible Markup L
anguage/Electronic Data Interchange).
This will allow trading companies to access the KT-Net Internet site (
www.exedi.com) and do business with a web browser, and without EDI Sof
tware. Businesses will be able to open and confirm an import L/C with
the Korea Exchange Bank, be notified about export L/Cs, and send out n
otification upon arrival of shipping papers.
KT-Net hopes to help small and medium-sized shippers who have not been
able to use trade automation systems because of the burden of establi
shing them. Also they expect to expand these possibilities for trade a
utomation systems through the Internet.
The advantages for EXEDI that KT-Net is offering seem to be convenienc
e for users, reducing expenses for trading companies, shortening handl
ing times for trading businesses, strengthening competitiveness for co
mpanies and stimulating the trading business for small companies.
XML is a human readable programming language like HTML, but unlike C o
r Fortran which are not human readable. It compensates for weaknesses
in HTML by allowing programmers to create their own "commands" or "tags"
.