KOTRA Predicts Using Overseas Buyer Data... $1.45 Million Achieved in 3 Months

AI Utilization, Implementation of Import Probability Analysis and Matching Support Project Based on Real Transaction Data

KOTRA achieved $1.45 million in results within three months through the 'AI Utilization, Real Transaction Data-Based Import Probability Analysis and Matching Support Project.'

KOTRA announced on the 10th that the data project, which was piloted in September last year, yielded such results.

Exterior view of the KOTRA headquarters.

Based on data secured independently, KOTRA used AI-based machine learning technology to predict overseas buyers with a high probability of import. Through this, they developed a new export support method that enhances the discovery of new buyers for Korean companies and increases export contract rates.

Regarding the independently secured real transaction data, 7.7 million import-export records from 21 countries were analyzed to predict overseas buyers' import demand. Using AI, buyers who import similar items from competing countries and have an import probability of over 70% were predicted, and these buyers were matched with domestic companies.

To understand competing countries' import trends and discover buyers, overseas import-export data obtained through cooperation with external organizations was also utilized.

Currently, KOTRA's independently secured overseas company data amounts to approximately 10 million records. KOTRA plans to further expand the scope of data collection and analysis by linking with external data in the future.

Lee Jung-hoon, Head of KOTRA's Digital Trade and Investment Division, stated, "In the future, securing data and analytical capabilities will play a crucial role in global business," adding, "We will continue to expand data-driven support projects utilizing AI to support exports of small and medium-sized enterprises."

This content was produced with the assistance of AI translation services.