By Kim Su-Ji
Reporter, “Sports Seoul”
In August, 37 Point Co., Ltd. signed a business cooperation agreement with SK M&Service and has been pushing forward to launch their new platform to enter into the global B2B trading market.
Under the theme of the 4th industrial revolution, where the core of the industry shifts from manufacturing to distribution which enables us to transcend time and space based on data and systems, 37 Point Co., Ltd. has been developing a smart platform system named SID (Smart Inter Deal) which is a new trading system for the global storage and distribution of inventories involving the world's leading manufacturers, distribution companies, manufacturers' associations, and organizations.
As far as distribution of global inventory goes, recently created products are often not used until the end of the product lifecycle, but their lifecycle rather depends on rapidly changing trends. Naturally, inventories that have not been sold out are overflowing all over the world, to solve the issue, new trading platform such as SID is on the rise, disentangling manufacturers from such problem. Just because certain trends came to an end in a certain area, doesn't mean they are outdated in the other areas. Even products that are already out of fashion in some districts may be spotlighted as new trends in different areas. SID, developed by 37 Point Co., Ltd, eliminates the barriers between countries and sells out inventories where needed.
SID is a closed premium membership platform consisting of specific retailers and manufacturers. It reflects the characteristics of each country's inventory and its liquidation, supporting all the matters related to trade, and has the advantages of reliable and quick trade process.
SK M&Service supports SID with additional functions for logistics, insurance, quality inspection, financing and other necessary trade transactions. SID is the only platform in the world that will build an ecosystem for the trading of inventory goods. It is expected to contribute to the revitalization of international trade and to be an effective tool for domestic small and medium enterprises that need new market development.
Ricky Hong, founder of 37 Point Co., Ltd, told the reporter, "We have already secured leading distributors in the US and Europe through the recruitment of prospective clients. He also added, “We expect to achieve sales of more than 50 billion KRW based on the first year of business, we are pushing forward the development to open our platform this year.”