Namdo Market recently announced that it has completed a round of investment. MYSC, Behai Investment, Kim Ki-sa Lab, and Infobank participated in this investment. Through this investment, Namdo Market plans to accelerate its entry into the global market, advancement of AI-based technology, and expansion of wholesale transactions nationwide, including Dongdaemun.
Namdo Market provides B2B distribution commerce platform 'ND MARKET' centered around Dongdaemun and Namdaemun wholesale markets, 'ND UNCLE', an order and settlement automation system for small businesses, and 'ND BOX', a fulfillment service exclusively for wholesalers. The company uses AI technology to provide product matching, settlement automation, and logistics integration solutions, and is digitalizing traditional offline-centered business models to increase convenience and transparency. Through this, it is quickly and efficiently connecting suppliers and small businesses, and strengthening market competitiveness.
An official from MYSC said, “We invested because we saw great potential in increasing efficiency and providing personalized solutions by converting traditional analog business methods in wholesale markets including Namdaemun and Dongdaemun to digital/AI,” adding, “Namdo Market will play an important role in helping domestic wholesale and retail merchants advance into the global market by connecting with a customer base with high demand for Korean products.”
Yang Seung-woo, CEO of Namdo Market, explained, “Namdo Market is a B2B commerce platform that was founded to solve the structural inefficiencies of the traditional wholesale and retail market with technology,” and “We are expanding domestic and international markets and diversifying our data-based business model by promoting automation of the entire transaction process, including ordering, settlement, and logistics.” He added, “The background behind the founding of Namdo Market goes beyond simple distribution innovation to building an ecosystem where small business owners and wholesalers can grow fairly in a digital environment.”
CEO Yang also said, “Namdo Market has been recognized as a platform that simultaneously realizes technological and social values, such as winning the Presidential Award and providing wholesale and retail distribution data to policy and research institutes,” and expressed his ambition to “continue to grow into a representative B2B commerce company in Asia.”
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