Monday December 18, 8:02 am Eastern Time
Press Release
SOURCE: Oracle Corporation
ChemRound.com Chooses Oracle to Power Asia Pacific Chemical Industry B2B Exchange
LG Group, SK Group and Hyundai Group Join to Form ChemRound.com
SINGAPORE, Dec. 18 /PRNewswire/ -- ( oracle.com ) Oracle Corp.(Nasdaq: ORCL - news), the largest provider of software for e-business, today announced that leading Korean business conglomerates LG Group, SK Group and Hyundai Group have jointly established a business-to-business chemical exchange, ChemRound.com. Powered by Oracle Exchange, Oracle's complete, integrated and Internet-based exchange software, ChemRound.com is the first one-stop Internet marketplace for the Asia Pacific chemical industry. ChemRound.com will make it possible for participants to purchase, sell and auction items at ChemRound's auction platform or list and search at the catalog section for all kinds of chemicals. Realizing the tremendous opportunity provided by the Internet to the chemical industry, ChemRound.com will allow Asian chemical suppliers and buyers to communicate and share information in real time as well as collaborate more effectively to deliver lower cost, higher quality products and services to the global marketplace faster.
``ChemRound.com was built to help chemical companies succeed in the rapidly burgeoning Internet economy,'' said Mr. John Kim, Chief Operating Officer, ChemRound.com. ``It is our goal to embrace a complete e-business solutions and provide our suppliers and buyers supply chain management functions including total demand and capacity plans, order forecasts, delivery schedules, worldwide inventory displays and fully automated purchasing processes.''
Oracle's Exchange Software Fuels ChemRound.com's Quick Deployment
Oracle is able to provide companies such as ChemRound.com with a complete, out-of-the-box exchange platform. The exchange platform provides customers with the ability to create their own private exchanges and offer participation to their trading partners.
``While other companies wait for vendors and integrators to cobble together an exchange architecture, ChemRound.com and others who have chosen Oracle's exchange platform are launching their exchanges at a record pace,'' said Derek Williams, executive vice president, Oracle Asia Pacific Division. ``In a market where speed is everything, Oracle provides the advantage of speed necessary to stay competitive. If a company chooses Oracle's complete package of applications and services to create their exchange solution, they will be up in less than 60 days-period.''
Among the Oracle branded exchanges are Cable & Wireless Hong Kong Telecom, Dubai Ports Authority Digital Exchange, Belgacom E-Exchange and KPN Exchange. Oracle's exchange platform has also been adopted for industry specific exchanges such as CateringX, Covisint, GlobalNetXchange, RetailersMarketXchange, Auto-Xchange, FP-Xchange and GlobalTransportXchange. Oracle currently powers more than 30 exchanges in the Asia Pacific region alone.
ChemRound.com, will initially target the chemical industries of Korea, Japan, China, Taiwan and other East Asian countries. ChemRound has set up its regional sales office in Seoul, Korea in response to the rising use of ChemRound's online trading services and a growing demand for broader-based online B2B transactions throughout Asia. Additionally, ChemRound is planning to expand into the Middle East, U.S. and Europe.
Since its inception in August 2000, ChemRound has accrued more than 200 registered corporate members accounting for more than 300 over users, mainly from Asia. The catalog section has also seen the list growing with more than 800 chemical items.
About Oracle
Oracle Corporation provides the software that powers the Internet. For more information about Oracle, please call 650-506-7000.
About ChemRound
ChemRound, which launched in August 2000, is the first on-line chemical marketplace in Asia. ChemRound aims to provide integrated trade services to members within and outside of Asia. Initially founded in March 2000, ChemRound aspires to have more than 5000 chemical community members in the next two years. Headquartered in Singapore, the company is backed by the SK Group, LG Group and Hyundai Group.
For more information, visit the company's Web site at chemround.com .
Trademarks
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SOURCE: Oracle Corporation |
