Cyber Merchants Exchange Inc (C-Me), an international B2B electronic trading company, has established a joint venture company, C-Me Korea to expand its global merchandise sourcing and retail sales network.

"South Korea plays an integral role for international trade," said Frank Yuan, chairman and chief executive officer of Cyber Merchants Exchange. "Korea's 80 per cent GNP is derived from export products such as apparel, footwear and consumer electronics. Establishing C-Me Korea benefits our existing group of US retail partners and our overseas joint venture partners."

"Over the last few years, we have evaluated a wide range of electronic trading companies," said C-Me Korea president Sukon Kim. "We found C-Me's Internet Sourcing Network (ISN) and Global Financial Platform (GFP) the most innovative and successful Internet trading model. With my background in international trading and long-standing ties throughout Europe's retail and manufacturing community, Korea will be an essential part of C-Me's global growth."

Sukon Kim, a Korean native, is director and president of partner company DYCO Tex Inc, which has over 25 years of international trading experience and significant real estate holdings with more than $30m US sales volume per year.