TradingProduce.com, the world’s premiere business-to-business e-commerce site for the agriculture and food industries, has announced a joint-venture agreement with Tong Yang MoolSan Co., Ltd., which is a multi-billion dollar Korean conglomerate with a heavy emphasis in agriculture.
“This will be a full-blown operation with sales, marketing, engineering and a data center in Korea,” said TradingProduce.com CEO Rob Bonavito. “We are very pleased to begin our world-wide roll out with first announcing our Korean joint venture. This is a tremendous opportunity in the import/export business with Korea, primarily in the meat and produce industries.”
The multi-faceted company was founded in 1960 as Bokun Enterprise Co., changing its name to Tong Yang MoolSan Co., Ltd. in 1962. The head office is in Seoul, Korea.
“We are very excited about bringing e-commerce solutions to Korea,” said H.I. Kim, vice chairman of Tong Yang MoolSan Co., Ltd. “We have been most impressed with TradingProduce.com’s technology which allows a buyer to do his job with only two clicks of a mouse.”
TradingProduce.com further enhanced its strength in developing international markets last week with the addition of Juan C. Batista as Vice President in charge of the Produce Products Division.
In his roles as a businessman and government advisor, Batista has done business in, or is familiar with the markets in 25 countries. He is currently an active member of advisory committees on fruits and vegetables for the U.S. Secretary of Agriculture and the U.S. Trade Representative as well as the U.S. Department of Commerce’s District Export Council. “This is an exciting time because e-commerce will further open bi-lateral trade doors with Korea,” Batista said. “The economic potential both domestically and internationally is phenomenal.”
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“There is no question TradingProduce.com has done their homework on developing and providing a seamless, automated work flow system for the agricultural industry and now they are taking it internationally. They are poised for explosive growth. This is an exciting opportunity to step into the middle and be a part of that growth in a multi-billion-dollar industry.”
TradingProduce.com’s service- and solution-oriented web site charges its members no buy/sell transaction fees and provides an opportunity for significant savings throughout all the perishable food industries.
It also offers the opportunity for the customer to move the entire transaction process electronically through the Internet to their own accounting system with no paperwork involved. Its business model is designed to create revenue from proprietary value-added services, including logistics, financial services, analysis tools and engineering.
The powerful business-to-business e-commerce site is a privately held company backed by the $950 million investment fund Bay Isle in San Francisco, Silicon Valley private investors and vTraction, an affiliate of Rabobank, which is one of the world’s largest and strongest financial institutions with $290 billion in assets.