174 Wadiz Global Projects in Just Two Months... Exporting to 200 Countries
AI English Translation... Expansion to Chinese and Japanese
Wadiz, the largest crowdfunding platform in South Korea, has opened new export opportunities for innovative domestic small and medium-sized enterprises (SMEs) through its global service launched earlier this year. The company has effectively addressed challenges such as language barriers?which SMEs often perceive as major obstacles in the export process?by leveraging artificial intelligence (AI) technology. The range of languages supported by AI will be expanded, offering domestic SMEs exploring overseas markets more opportunities to export to a wider variety of countries.
According to Wadiz on July 29, the number of projects on 'Wadiz Global,' which was launched in May, has reached a cumulative total of 174. This means that over the past two months, 174 products from domestic SMEs have been sold or are scheduled to be sold to 200 countries through this platform.
Wadiz Global is a service designed to help domestic SMEs acquire their first overseas customers through crowdfunding and enter the global market with stability. Since its launch, more than 6,000 members from over 80 countries have registered, and actual payments have been made from more than 17 countries. By product category, beauty accounted for the largest share at 25%, confirming the so-called 'K-beauty' trend, followed by fashion (21%), tech appliances (11%), and sports·outdoor (9%).
The key factor behind the rapid establishment of this service in the global market is its AI-based automatic English translation feature for funding stories. As long as SMEs follow the same procedures as they would for launching a project domestically, AI translates the content into a form that appeals to overseas customers, thereby lowering the entry barriers to export markets. In addition, the platform provides overseas payment systems and matches official shipping partners. As long as a product is suitable for global markets, the platform supports everything from marketing it, to receiving payments, to shipping.
Wadiz is also working to further enhance its AI capabilities to help domestic SMEs expand globally. The company plans to upgrade its AI?which currently supports only English translation?to also provide Japanese and Chinese translations by the third quarter. Currently, U.S. members account for 56% of the total, but with the addition of Japanese and Chinese AI translation, Wadiz expects to attract more customers in Asian markets such as Taiwan, Singapore, and Malaysia, where payments are already being made.
The service, which is currently available via PC or mobile web, is expected to be significantly improved with the launch of an application early next month. A Wadiz representative stated, "We expect that the number of projects and global traffic will increase significantly with the expansion of AI translation features and the launch of the app," adding, "We aim to ensure that small business owners and emerging brands can use this as a successful starting point to reach overseas customers, rather than remaining only in the domestic market."
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