KCCI and Naver Sign MOU on 'Standardization of Product Information in Online Distribution'

Establishment of Standard Product Information Sharing Platform
'International Standard Product Barcode Criteria' Applied
Management of Identical Products with Identical Codes
Consumers Can Accurately Compare Products

It will become easier to find and compare desired products when shopping online in the future.

The Korea Chamber of Commerce and Industry (KCCI) announced on the 24th that it has signed a Memorandum of Understanding (MOU) with Naver to "standardize product information in the online distribution sector."

This agreement aims to manage product information distributed online in a systematic form by applying the GS1 international standard and to establish a product information sharing platform (hereinafter referred to as the platform) between manufacturers, brand companies, and online distributors. GS1 (Global Standard One) is an international private standard organization with participation from 117 countries. The GS1 international standard product code is used in various fields such as manufacturing, distribution, and logistics to accurately identify products and efficiently manage product information.

Under this agreement, KCCI will build a platform where manufacturers and brand companies can register and manage product information and provide the collected product information to online shopping sectors such as Naver. Additionally, incentives will be offered to companies newly using the GS1 standard product code to reduce the burden of license fees. Naver will provide classification criteria and information items for product data standardization and guide and encourage online shopping mall sellers to register information actively on the platform established by KCCI.

Previously, KCCI also signed MOUs last year with Coupang, Gmarket, and others to promote the spread of international standard product barcodes. This platform construction project with Naver is expected to be the starting point for the full-scale expansion of the online product information standardization business.

Until now, sellers had to register product information directly on each online shopping mall they wanted to join. As a result, many duplicate or inaccurate product information existed on online shopping malls, requiring enormous costs and manpower for maintenance work. Also, since various sellers registered product information in different ways, consumers found it difficult to accurately compare and purchase because the same product appeared as different products in searches.

However, once the platform is established, manufacturers and brand companies will only need to register product information based on the standard barcode once. Multiple online shopping malls can link and utilize this product information, significantly reducing the cost and time required for product information registration and management. Consumers will also be able to easily and accurately compare conditions and purchase options from various sellers when product information is standardized based on the standard barcode. The accumulated product information is expected to be used as data that serves as a foundation for utilizing artificial intelligence (AI) in various fields such as personalized product recommendations, new product trends, and consumer pattern analysis.

Jang Geun-mu, Director of the Distribution and Logistics Promotion Institute at KCCI, said, "This agreement with Naver will greatly help strengthen the competitiveness of our distribution companies by establishing a product information management system at the level of global leading companies like Amazon, amid the fierce advance of C-commerce such as Ali and Temu." He added, "When entering the global market, products can be efficiently distributed based on the international standard product code without the need to assign separate product codes."

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