Now it’s time to take a look at a Korean business bringing about changes in the global economy with some new ideas.
The company we’re going to introduce today is FORBIZ KOREA, an e-commerce platform provider. Let’s hear from company CEO Shin Hoon-sik.
FORBIZ KOREA provides e-commerce solutions and platform services. It has helped franchise business operators and retailers build an e-commerce platform for 15 years. The company name FORBIZ is short for “for business,” containing its hope to support business activities of its client companies. In addition to providing e-commerce systems to companies, the company aims to create a platform capable of maximizing the benefits of e-commerce.
Shin formerly worked as an organizer and developer at an IT consulting firm. He remedied shortcomings he found in existing supporting services for online shopping malls and set up FORBIZ KOREA. He created a smart shopping mall system by integrating shopping malls and the data-based statistics system. The new system assists companies in creating their own shopping malls and operating them. The company has carried out more than 300 projects to build online shopping malls, including those for CheongKwanJang, a red ginseng brand, and Daiso, a household goods store. As a partner of Lazada, which is a leading e-commerce platform in Southeast Asia, the company has also helped Korean brands advance into Southeast Asia.
Many brands, including NANING9 and STYLENANDA, started selling and promoting their products online and became companies with great corporate value. When small firms grow to mid-sized ones, they have to equip themselves with various systems including those related to e-commerce, enterprise resource planning and logistics. Those systems should be integrated or connected efficiently. If they fail to function properly, companies find it very difficult to manage their business. Our solution is designed to help companies build an e-commerce system optimized for their business. Based on our experience we’ve accumulated for over ten years, we included customers’ demands effectively in our platform.
Here is an example of an ideal shopping mall tailored to a particular company. If a consumer orders a product on an online shopping mall dealing in red ginseng, one of 1,300 franchise stores across the nation delivers the product. The online mall is connected with those small businesses for win-win growth. Consumers may see products themselves at one of the stores before placing an order, and the shopping mall can increase its sales as well.
For a food shopping mall, where inventory control and fresh products are important, FORBIZ KOREA has developed a solution that connects the production management system with shopping. Based on its technology and expertise, the company has also created a customized solution for a store selling a variety of low-priced household goods and other solutions for shopping malls providing interior goods and small daily supplies.
The company has developed a new platform called Relaket in order to provide its solutions to many more people at affordable prices. Relaket is a futuristic e-commerce model that connects producers, sellers and brokers on a single platform.
Relaket is a global multi-marketplace management platform that integrated e-commerce value chains. The system manages distribution both in Korea and overseas in an integrated way. Currently, many small businesses find it challenging to produce goods well and sell them well at the same time. Relaket enables numerous brands and vendors to distribute goods in a systematic way. The platform put all necessary functions together to meet customer demands in e-commerce.
Previously, companies used to sell things at their own shopping malls or at open markets. They would also meet customers through social media. But there was no digital platform that integrates and connects them.
Relaket brings all these together. On this platform, sellers can manage inventory, orders, delivery and customer complaints altogether. It is connected to not only eight major open markets in Korea but to global ones including Lazada and Zilingo. Relaket enables the integrated management of products selling in markets in many countries using different languages and currencies.
In cooperation with Naver, FORBIZ KOREA launched its ambitious service called “META Commerce” in March this year. The company opened this free, standalone e-commerce platform with the belief that expanding the ecosystem of the domestic e-commerce market will help the company sharpen its competitiveness further.
Using our expertise that we’ve secured for more than ten years, we developed the service with Naver Cloud. We provide it to many companies for free so the companies can carry out e-commerce projects with alternative developers—other than us. In fact, some companies couldn’t work with us due to cost issues or other problems. Using this service, they are conducting dozens of projects.
META Commerce is a solution that enables the management of a large shopping mall as well as a startup. Specialists in development, design and marketing provide help, so anyone using the service can try e-commerce.
Continuing with its innovation drive, FORBIZ KOREA is preparing for the next step to catch up with the latest e-commerce trends.
You may have heard the term, “dropshipping,” in which a retailer keeps no inventory. We imagine that e-commerce of the future will evolve into an individual-centric one. Our vision is to provide a global dropshipping platform. Even now, our platform serves as a sales agent that sells products of small businesses from Gyeonggi Province in Japan and Southeast Asia. Also using our platform, about 120 firms are participating in the Small and Medium Business Distribution Center’s project to support small exporters. We hope we can contribute to building an advanced platform that allows small businesses and manufacturers to distribute their goods online more smoothly.
FORBIZ KOREA’s ultimate goal is to provide a global e-commerce platform that would connect the entire world. The company will surely be able to fulfill that goal, as it keeps evolving in line with the fast-changing e-commerce environment. We’re looking forward to the most perfect e-commerce solution to be created by the company.