Expanding Markets and Increasing Sales through AI Direct Transaction Platforms
The Korea Federation of Merchants, Small Business Innovation Strategy Institute, and Harex InfoTech signed a tripartite MOU.
The Korea Federation of Merchants announced on December 24 that it signed a Memorandum of Understanding (MOU) with the Small Business Innovation Strategy Institute and Harex InfoTech. At the Korea Federation of Merchants conference room to activate traditional markets using an AI direct transaction platform.
Park Kyung-yang, CEO of Harex InfoTech (left), Lee Chung-hwan, Chairman of the Korea Merchant Association(center), and Byeon Myeong-sik, Director of the Small Business Innovation Strategy Institute, are posing for a commemorative photo during the signing ceremony of the MOU on the 24th at the Korea Merchant Associations’ conference room.
Through this agreement, the three organizations plan to collaborate to increase merchants’ sales and income in traditional markets by using the AI direct transaction platform to sell flagship traditional market products and local specialties and support the development of new products. The AI Direct Transaction Platform is an innovative service that uses artificial intelligence to connect merchants directly with consumers, offering merchants low-cost sales opportunities and recommending customized products to consumers at reasonable prices.
Under the agreement, the three organizations will promote and support the entry of traditional market merchants into the AI direct transaction platform, select traditional market products and support new product development, enhance and operate the AI direct transaction platform, and support product sales and joint marketing. In particular, the Small Business Innovation Strategy Institute, a specialized training institution for traditional market merchants, plans to develop and provide customized training programs on AI direct transactions to enhance merchants’ digital capabilities.
In addition, the Korea Merchant Association has made efforts to revitalize traditional markets through activities such as promoting online sales of traditional market products, strengthening merchant capabilities, expanding win-win cooperation in the distribution industry, promoting traditional markets, and exhibiting regional products. Securing a new sales channel through AI’s direct transaction platform is expected to boost its activities further to promote traditional markets.
Lee Chung-hwan, Chairman of the Korea Merchant Association, said, “We hope that this agreement will provide traditional market merchants with new opportunities for market expansion and revenue growth,” adding, “We will continue to strive to strengthen the competitiveness of traditional market merchants.” Byeon Myeong-sik, Director of the Small Business Innovation Strategy Institute, said, “We will actively support the activation of traditional markets using the AI direct transaction platform and ensure that it promotes regional specialty industries and regional economic development by developing customized training programs. Park Kyung-yang, CEO of Harex InfoTech, stressed, “We will continuously improve the AI direct transaction platform we have developed to provide substantial support to traditional market merchants,” and “We will contribute to increasing sales of traditional market products through various marketing activities.”
Meanwhile, the three organizations plan to establish a practical cooperation committee and hold regular meetings to develop a close cooperation system to implement the agreement successfully.
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