Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : INTERNET ASIA + Indexes -- Ignore unavailable to you. Want to Upgrade?

To: micky who wrote (1374)	10/18/1999 11:26:00 AM
From: OLD JAKE JUSTUS	Read Replies (1) \| Respond to of 1567

An excellent post, micky! I apologize for all of the O/T posts. I believe that the SEC will have new and enforceable rules soon, that will benefit both sides. We'll see. Many thanks!

To: micky who wrote (1374)	10/18/1999 11:40:00 AM
From: Julie Simmons	Read Replies (1) \| Respond to of 1567

I started posting to this thread when a Company I have invested in was put on the "Index". At that time I was asked to keep this thread updated on developments with the Company. Lately it does seem that this thread is getting off topic and concentrates more on mud slinging. In case anyone is still interested in Asian Companies with potential I have attached today's News Release for First Ecom (FECC) who just announced online processing with Hana Bank of Korea. firstecom.com Company Press Release First Ecom.Com Signs Memorandum of Understanding with Hana Bank of Korea to Provide Internet Payment Processing Services Agreement to Boost E-Commerce Transactions in Korea HONG KONG--(BUSINESS WIRE)--Oct. 18, 1999-- First Ecom.com (NASD OTC BB: FECC), a global provider of Internet payment processing services, today announced it has entered a Memorandum of Understanding with Hana Bank, the sixth largest bank in Korea, whereby First Ecom will provide Hana Bank with Internet payment processing services as an independent third-party processor. The arrangement, the first of its kind in Korea, is intended to allow Hana Bank's merchants to accept Internet credit card payments for goods and services they offer online. Though this arrangement, Hana Bank expects to become the first bank in Korea to offer real-time, multi-currency Internet payment processing services for major international credit cards. With one of the highest PC and Internet penetration rates in Asia, Korea boasts a huge e-commerce growth potential in the region. Prior to First Ecom's entry into Korea, the lack of an Internet payment processing solution has been a major roadblock for Korean merchants to deploy a full business-to-consumer e-commerce strategy. The signing of the memorandum of understanding between Hana Bank and First Ecom represents an important step forward in realizing the country's full e-commerce potential through First Ecom's Internet payment infrastructure. ``We're very excited about the opportunity of expanding our Internet payment processing services into Korea,' said Gregory Pek, president and CEO of First Ecom.com. ``As Korean banks assume an increasingly important role in enabling the country for e-commerce, First Ecom intends to be there and work with them. Our agreement with Hana Bank signifies the start of fulfilling e-commerce in the country.' ``Our Memorandum of Understanding with First Ecom is in line with our commitment to consistently meet and exceed our customers' needs and to be an industry leader,' said Seung-yu Kim, president & CEO of Hana Bank. ``More and more of our merchants need our help to start selling on the Internet. With First Ecom as our Internet payment processing partner, we can easily and quickly bring our merchants online at minimal cost. As the first bank in Korea to have Internet transaction capability, we gain a significant competitive advantage in the industry.' First Ecom intends to act as Hana Bank's third-party processor, responsible for the following: -Initial setup of the Bank's system to interface with First Ecom's Internet payment gateway; -Provision of credit-card payment processing services to the Bank, including authorization and settlement; -Maintaining the processing system for the Bank. By outsourcing Internet payment processing to First Ecom, Hana Bank will achieve fast time to market as well as significant savings in both financial and human resources otherwise required for developing an in-house processing system. More importantly, the bank will be able to keep its existing relationships with merchants, retaining control on pricing, merchant evaluation and approval. About Hana Bank Established as a short-term finance company in 1971 and converted into a commercial bank in 1991, Hana Bank is now the sixth largest bank in Korea. Based in Seoul, the bank has 278 branches across the country and employs a staff of 3,273. Hana Bank was voted the Best Managed Company in Korea by Asiamoney in 1998 and won the Korea Management Association's Best Customer Satisfaction award in 1998. About First Ecom.com With its capability in both traditional and electronic payment processing services, First Ecom.com (NASD: OTC BB FECC) provides secure, easy-to-implement, and low-cost payment processing for banks and their merchants worldwide. Through strategic partnerships with banks, ISPs, e-commerce system integrators and storefront solution providers, First Ecom will process credit card transactions in multiple currencies, both domestically and offshore in a tax-neutral jurisdiction. For more information, visit http:// www.firstecom.com or contact First Ecom.com at 852-2801-5181 or by e-mail at info@firstecom.com.