Samsung Chooses iMALL as E-Commerce Partner
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Santa Monica, CA-based iMALL Inc. said that Samsung Corp. will partner with the company to launch the "Korea's Best" export program.
Samsung will electronically load select products into iMALL's new shopping portal, Stuff.com. Additionally, Samsung will kick off the agreement with a $200,000 commitment for Web site promotion on the iMALL network of media properties, including the Stuff.com product-level search engine and imall.com, an online mall.
The "Korea's Best" program will enable Korean merchants of all sizes to sell their products online to the U.S. marketplace. Samsung will participate as an intermediary, providing an online product mall as well as promotion, and the Korean government will provide guarantees to U.S.-based Web shoppers to make them comfortable with the security and shipping associated with purchasing international products through the Web.
"We were impressed by iMALL's experience in e-commerce and their ability to package their services and Web media properties to meet our needs," said Lee Keum Ryoung, director of Internet business development for Samsung..
Samsung, with $96 billion in revenue, leads Korea's international trading activities and exported to the U.S. $16.5 billion and imported $5.2 billion worth of goods in 1998.
The company said it plans to expand its Internet business with worldwide partnerships with leading Internet companies.