Namdo Market Expands Service Beyond Namdaemun to Dongdaemun Wholesale Market

- B2B Wholesale and Retail Platform Namdo Market Now Accepts Orders for Dongdaemun Wholesale Products Following Namdaemun
- Free Oversized Shipping Fee Event to Celebrate Dongdaemun Opening

B2B wholesale and retail platform Namdo Market is expanding its wholesale and retail brokerage services from Namdaemun Market to Dongdaemun Market. The goal is to enhance service convenience and strengthen customer experience.

With the opening in Dongdaemun, retailers can now easily order desired products without having to visit not only Namdaemun but also Dongdaemun wholesale markets directly. Especially when using Namdo Market's exclusive ND Delivery service, customers can enjoy lower fees than the market for ▲combined shipping of products from multiple stores ▲product inspection by Namdo Market delivery managers ▲additional packaging ▲automatic issuance of tax invoices.

From the business perspective, ND Delivery helps save time and miscellaneous costs involved in purchasing, and many retail businesses are currently using it. Additionally, to commemorate the opening of Dongdaemun wholesale market, Namdo Market is running a free excess shipping fee event. Namdo Market will cover the excess shipping costs based on size and weight beyond the basic courier service. Purchasing heavy or bulky products through Namdo Market can save on shipping costs.

Furthermore, to quickly integrate into Dongdaemun Market, Namdo Market plans to collaborate with purchasing agents known as Saip Samchon, who act as intermediaries for Dongdaemun merchants. Rather than replacing them, Namdo Market will support them by providing the order and settlement simplification service ‘ND Uncle’ free of charge and collaborate on Dongdaemun pickup and delivery processes. ND Uncle is a service that easily manages order and settlement document work for all vendors beyond just Namdo Market orders.

Dongdaemun wholesale products mainly consist of fashion items such as women's clothing, men's clothing, and bags. These categories complement Namdaemun’s jewelry and fashion accessories well, and if more Dongdaemun wholesalers join, it is expected to create a ‘K-Fashion’ synergy.

CEO Yang Seung-woo stated, “Starting with Dongdaemun, we are aggressively expanding products and services, including onboarding food manufacturing companies from Jeju Island.” He added, “This year, we plan to include wholesale products from across the country on Namdo Market to enhance transaction convenience for wholesale and retail businesses.”

Meanwhile, established in 2020, Namdo Market is a brokerage platform connecting Namdaemun wholesale businesses with domestic and international retail businesses. It reached its break-even point within three years of founding and showed rapid growth, recording a monthly transaction volume of 2.6 billion KRW as of December last year. Aiming to become Korea’s representative wholesale platform, Namdo Market is preparing for Series A investment in 2024 for a bigger leap forward.