KOTRA's Artificial Intelligence Platform

KOTRA’s Artificial Intelligence Platform “Dream” Helps SMBs Go Abroad [Image source: KOTRA]

An online “Dream” platform developed by the Korea Trade Investment Promotion Agency (KOTRA) that provides offshore market information has served as a frontline source of support for South Korean exporters since its inception in December 2021. by providing information on entry abroad for 79 ministries and public services. and private agencies.

According to KOTRA on Wednesday, platform providers have categorized information by market entry stage through a single domain (dream.kotra.or.kr). The data is reliable because the sources are diverse, from the Ministry of Economy and Finance to the Korea Commercial Arbitration Board.

KOTRA recently upgraded the platform with artificial intelligence for more personalized service. The AI ​​helps the website examine 1,300 offshore market reports, around 200 export items and suggest a range of high potential markets for the exporter.

The platform has made progress in terms of the number of data and users. Data provided by the platform has doubled to 10 million last year since its launch in 2021. The average daily user has also increased to 18,900 from 16,000 in 2021.

Businesses hoping to enter new markets use the platform.

Gyeonggi Government Trade Corp. (GGTC), for example, recently shipped 60,000 bottles of Korean red ginseng drinks to Georgia, USA.

SMEs usually need to contact each buyer and look into the relevant regulations. GGTC, however, was able to obtain a series of useful information about the target market. The artificial intelligence service researched US market information based on demand for health supplement foods like ginseng and provided a list of potential US buyers. This has helped GGTC save the time and resources needed to trade.

Osstem Implant Co., Korea’s leading manufacturer of dental implants, also found the platform useful last year when the company was preparing to establish an offshore company in Europe. The platform provided step-by-step information on two different categories? export and investment.

Meanwhile, KOTRA has organized trade booths at international trade expos that help Korean SMEs meet international buyers. Around 2,600 SMEs participate in trade fairs every year with the help of KOTRA.

By Seo Jin-woo and Han Yubin

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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