Namdo Market

Namdo Market operates a business-to-business e-commerce platform that digitizes the wholesale market of South Korea, primarily focusing on Namdaemun and Dongdaemun markets in Seoul. Founded in August 2020 by CEO Yang Seung-woo, the company aims to bridge the gap between traditional offline wholesale vendors and modern retail businesses, both domestically and internationally. Yang's background as a category manager at G-Market provided him with firsthand insight into the inefficiencies of the existing distribution structure, inspiring him to create a dedicated platform for Korean-made wholesale goods.

The company serves wholesale vendors and retail business owners by providing a digital marketplace where retailers can discover and purchase products without physically visiting the markets. This model significantly reduces time and costs for retailers. Namdo Market's core service allows retailers to browse products from numerous vendors online and receive them in a single consolidated shipment. The platform initially focused on Namdaemun Market, which offers a wide variety of goods including accessories, children's clothing, pet supplies, and kitchenware, before expanding to include 동대문's fashion-centric offerings. Revenue is generated through value-added services rather than charging basic platform usage fees to wholesalers. These paid services include a comprehensive fulfillment solution called 'ND BOX', which covers product inspection, packaging, and shipping, and 'ND Pick', a service offering professional product photography that retailers can use for their own online stores.

To further integrate technology into the traditionally analog wholesale sector, Namdo Market has developed additional solutions. It launched 'ND UNCLE', a SaaS tool for automating orders and settlements, and 'Nambot', an AI-based logistics management system to optimize delivery routes and forecast demand. By building trust and providing services tailored to the needs of older, less tech-savvy merchants, such as assisting with product registration, Namdo Market has achieved a significant market share in Namdaemun's online wholesale trade. The company has successfully raised capital, including a Pre-Series A round of 3.5 billion won, to fuel its growth, service development, and global expansion. Keywords: B2B e-commerce, wholesale platform, Namdaemun Market, Dongdaemun Market, Korean wholesale, retail sourcing, fulfillment services, SaaS, logistics automation, cross-border trade, K-products, accessories wholesale, apparel wholesale, small business solutions, supply chain technology, digital transformation, e-commerce solutions, order management, inventory management, last-mile delivery