Pure Commerce wins G20 Best Services in Korea
Pure Commerce beat out the big institutions to win the inaugural AustCham Korea 2010 G20 Australian Business Awards for Best Services Company.
The Australian currency services provider was named winner at the awards in Seoul on 3 November, ahead of Macquarie Securities and Jones Lang LaSalle.
The Australian Chamber of Commerce in Korea established the G20 awards to recognise achievements in Australia-Korea business activities. According to Austrade, Korea is Australia’s third largest export market with exports to the value of around $2 billion.
Pure Commerce has provided outsourced dynamic currency conversion services to the Korean Exchange Bank’s merchants, including Korea’s largest casino Seven Luck and department store Lotte, since 2008. It was the first Australian company to sell financial technology to a Korean financial institution in a business culture commonly regarded as extremely complex.
“Pure Commerce has a unique service that no local Korean company has an alternative to offer,’ said Martin Walsh, senior trade commissioner for Australia in Seoul.
Korea is currently implementing financial services regulations based on the Australian framework, and Pure Commerce is seen as a market leader.
“We’re pround to be recognised as a leader and look forward to assisting other financial institutions around the world,” Pure Commerce’s CEO Daniel Lavecky said.
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