W Commerce Co., Ltd. (CEO Choi Yong-seok) and Dow Tech Co., Ltd. (CEO Han Dow) announced on the 25th that they have completed the development of an AI shopping mall sales system at the W Commerce headquarters and have started the business.
W Commerce has been pursuing a business that coexists with small online commerce merchants such as online wholesalers and consignment operators through the W Trading system for the past nine years. It has grown by achieving an annual sales revenue of 10 billion KRW together with about 5,000 partner companies.
The developer Dow Tech implemented the system based on the open market integrated management solution system applying AI functions owned by W Commerce and the open market integrated management method (Patent No. 10-1903330).
This new business launched by the two companies completely overhauls the existing method where partner companies directly registered and sold 1.5 million products by applying AI algorithms. From product registration to sales inventory management, everything can be processed automatically, so partners only need to monitor product sales volume, withdrawals, and balance management.
Choi Yong-seok, CEO of W Commerce, stated, “Through the launch of this AI shopping mall business, we expect a turning point in business growth by significantly increasing the number of partners and doubling sales.” Han Dow, CEO of Dow Tech, expressed his ambition, saying, “We are not satisfied with just launching the business; we will continuously advance it and have services we definitely want to showcase.”
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