VREDU supports Korean small businesses to step into Japan through tourism live commerce
In this way, it is possible to satisfy the thirst for overseas travel and to create jobs related to tour guides who are having difficulties due to the contraction of the tourism industry. Above all, by promoting consumption by foreign tourists, domestic small business owners can explore new markets.
This tourism convergence live commerce, called ‘Enjoy Street’, was developed by VREDU (CEO Kim Jae-heon). While Korean tourism acts as a kind of ‘labang’ (live broadcasting), it also combines commerce functions with AR (augmented reality) and AI (artificial intelligence) personalized recommendation technology. With this business model, the company was selected as a growth tourism venture company in the 12th Tourism Venture Business Contest hosted by the Ministry of Culture, Sports and Tourism and organized by the Korea Tourism Organization. This is because it is differentiated from general live commerce by melting tourism content.
Kim Jae-heon, CEO of VREDU, said, “Live commerce is a combination of real-time streaming technology with shopping. We plan to expand and conversely launch overseas tour convergence commerce for Korean consumers.”
Prior to this, VREDU signed an MOU with LMAT to secure the capability to enter the Japanese commerce market. LMAT is a Japanese distribution company with over 20 years of experience. After the MOU, it has been preparing to sell domestic products, such as establishing a commerce strategy necessary to enter the Japanese market. Currently, it is in the middle of attracting domestic small business owners to enter ‘Enjoy Street’.
CEO Kim said, “Despite the transition of non-face-to-face life style, the demand for Korean products is high due to the new Korean culture wave. He added, “We will help small businesses enter the Japanese market by combining LMAT’s distribution capabilities and VREDU’s IT technology.”