Kim Joon-ho, 39, Delicious Representative, who runs the Dongdaemun fashion B2B platform’Shinsang Market’, is interviewing the JoongAng Ilbo at the headquarters in Jongno-gu, Seoul on the 12th. Photo delicious
In Dongdaemun, which is considered the sacred place of Korean fashion, everything related to fashion from design to production and distribution is accomplished. Numerous designers come up with new designs every day, and new products pop out within a week. A giant statue appeared in Dongdaemun. The protagonist is Kim Joon-ho (39), who runs the B2B platform’New Market’, a B2B platform where 10,000 wholesale businesses and 120,000 retail businesses come and go several times a day. CEO Kim, who met at the headquarters in Jongno-gu, Seoul on the 8th, revealed a new aspiration for the world stage.
Interview with Joonho Kim, CEO of Delicious New Market
From a 40-month penny to an investor-lined venture
Delicious is a key partner in the global expansion of the smart store announced by Naver on the 2nd. Naver’s plan is that “if Dongdaemun companies develop competitive samples, they will systematically export logistics processes such as delivery after that.” The Dongdaemun fashion full-filment company is Delicious. Only the amount of investment secured by Delicious to date is 25.5 billion won. Inquiries from investors are inundated before the first investment received in 2017 has been exhausted. Most of the investment goes into full-filment building and recruitment.
The new market logistics team is packing Delibird products purchased in Dongdaemun to send them to customers. Photo delicious
Delicious has officially launched the full-filment service’Delivered’ in February. The retailer is responsible for everything from purchase to product inspection, packaging, and delivery. The number of shipments increased by more than 40% per month on average compared to September last year, when user recruitment began, and in six months, the quantity of shipments tripled and the purchase order amount increased to four times. CEO Kim said, “Wholesalers can save the trouble of penetrating new customers, and retailers can focus on marketing because Delicious just selects a sample that the wholesaler puts on the new market, and Delicious will take care of the rest.”
Representative Kim wasn’t even victorious from the beginning. In some cases, for 40 months after marriage, they did not pay a penny for living expenses. It was when I founded Delicious in 2011. At first, I challenged social commerce. That’s why it puts the meaning of deal in the mission. But soon I quit my business. “Social commerce has to persuade sellers who have no choice but to lose money to do promotions such as a half-price discount and do business, but it shouldn’t be my introverted personality.”
“The world’s only Dongdaemun, digital will become a new paradigm”
After wandering, the place that caught my eye was Dongdaemun. Dongdaemun deal was pulled online. When Kim was in her fourth year of college, she helped her friend to run an online women’s fashion online mall. Moreover, she had been in the clothes industry in Dongdaemun for a long time, but the lamp was dark underneath. The new market came out like that in July 2013. The new market, which had been promoting by distributing flyers to Dongdaemun merchants, surpassed 1 trillion won in cumulative transactions in April last year after 7 years. Last year, the order amount was about 430 billion won, an increase of 100 billion won from a year ago.
Delicious introduced’ShinSang Pay’, a simple payment service, in the Dongdaemun market, where most transactions are made in cash offline. When a retailer pays with’Shinsang Pay’, the new market side pays the wholesale business in cash. Businesses conveniently manage transaction history and make payments and settlements, and Delicious builds data on who buys what products and when.
The new market logistics team is packing Delibird products purchased in Dongdaemun to send them to customers. Photo delicious
This year, we are setting out to pioneer the global market. CEO Kim said, “The big goal of this year is to find the best model that connects Dongdaemun fashion and global demand.” “There are more than 10,000 designers, and Dongdaemun, Korea is the only place that has a spectrum that integrates all processes from production to distribution,” he said. He said, “Because this excellent system is not equipped with all the conditions such as logistics, we have only relied on overseas buyers such as Bundari.
First of all, the targets of target are China and Japan. It has similar race and seasonality to Korea, but has much greater purchasing power. To this end, it has recently partnered with the global e-commerce wholesale platform,’QuuBe,’ and is expanding the Dongdaemun fashion market by opening a service to B2C influencer commerce in Japan. Collaboration with Naver is also part of this plan.
“After the Corona era, the Dongdaemun ecosystem can survive only when distance restrictions are resolved through digitalization. If only accessibility is improved, a new form of transaction that has not existed will be achieved and it will become a new development paradigm for Dongdaemun.” CEO Kim now dreams of becoming a global colossus beyond Dongdaemun.
Reporter Chu In-young [email protected]
