Breaking News
Get 40% Off 0
🔎 See NVDA full ProTips for an instant risks or rewards Claim 40% OFF

STX unveils TrollyGo to digitize raw material trading

Published Nov 22, 2023 15:44
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
011810
-2.04%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
MZN
+0.71%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NICKEL
+0.70%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

SEOUL - South Korean trading conglomerate STX has launched TrollyGo, a digital B2B platform aimed at transforming global trade in raw materials and industrial goods. At a Seoul press conference today, Chairman Hong Ra-jung outlined the platform's capacity to modernize the 47-year-old business model, highlighting its potential to reduce costs and errors associated with traditional trading.

TrollyGo, which has been under development since 2018, offers an intuitive interface that includes features like one-click trades across various commodities, from nickel to zinc. The platform also boasts an innovative bidding system for selling surplus inventory and market data collaboration with Yonhap Infomax to provide users with real-time analytics.

One of the key aspects of TrollyGo is its commitment to security and confidentiality. For private negotiations, the platform provides an encrypted messaging system that allows buyers and sellers to communicate discreetly. Chairman Hong emphasized the importance of this feature in maintaining privacy during deal-making, a critical requirement in the digital age.

The initiative is part of STX's broader strategy to focus on its core trading business while moving past its previous liquidity crises. In September 2023, CEO Ashley Hong announced the creation of STX Green Logis for the firm's shipping operations and dismissed rumors about APC Private Equity's intentions to sell the shipping unit.

APC Private Equity CEO Ashley Hong also stressed the importance of digital transformation in today's market landscape. She detailed TrollyGo's capabilities and its role in digitizing the raw material industry, a sector that has traditionally relied on more conventional methods of trading.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

STX unveils TrollyGo to digitize raw material trading
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email