Korea Express launches cyber intermediary

Korea Express and Daewoo Information System launched an online cargo intermediary business as of this November.

Korea Express announced that it began working with Daewoo Information System in August 2000 and established a web system for its cyber intermediary business after 13 months with an investment of 1.5 billion won. After a three month trial period, the service is finally online.

This cyber information system focuses on the user, incorporates GPS (Global Positioning System), real time truck scheduling, EDI, and driving history automation.
An official from Korea Express said that real-time tracking and tracing systems through mobile phones and GPS instruments facilitates superior traffic flow information, improves truck supply, and enables remote control and upgrading transportation systems one step further.

Customers also have access to additional services, such as traffic flow information, maps, weather, insurance, and oil prices. Korea Express also expects to cut down logistic costs and improve cargo transportation efficiencies.

Still now, shippers have to go through two or three steps to search for transportation, while trucking companies usually have empty trucks, raising transportation costs.

However, Korea Express said, "By using our online cyber systems shippers can search for trucks as required, eliminating unnecessary costs. For 15-ton trucks, it could save up to 55%."

Especially, because Korea Express owns its own trucks, the benefits are expected to be even higher.

An official at Korea Express said, "We expect this business to increase to 6 billion won in the first year and to 42 billion won by its fifth year."