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WooAuction launched this innovative distribution system from the thought, “How can I lower the price and provide the customers good quality products directly to our customers?”
AVING News interviewed Jung Gyu, the CEO of WooAuction, which participated in the MIK HOT SPOT (Made in Korea Online Exhibition) Seoul Food Startup Center.
Please introduce your company briefly.
Hi. This is Jung Gyu, the CEO of WooAuction WooAuction is a distribution system that allows consumers to eat high-quality meat at a reasonable price through a smart livestock distribution system after direct purchase of cattle from Korean cattle farmers.
How did you start your business?
I started planning for my business two years ago when I was a retailer of City Butcher and saw that the price of Korean beef is too high, and I received a lot of complaints from them.
I came to think of an auction system with no middle steps, and crowd model where customers can purchase Korean beef and receive fresh it fresh right away through advance reservation. So, we are making these two models over a period of 18 months. I think we can see the results around the end of 2020 this year.
What are the good features of your system?
The biggest advantage of WooAuction economic system is that general consumers can access it most easily through mobile. And the biggest advantage is that customers can choose the part and the weight they want, and buy quality products at an affordable price.
You can think of the Korean beef crowd model as cattle butchering day event held by existing butchers. General customers have the advantage of being able to eat inexpensive meat when they are freshest by requesting the desired weight.
What are your plans for the future?
We have already finished developing the WooAuction app. You can download it from the Play Store or App Store. The Korean beef crowd model is currently under development, and we are planning to officially launch it at the end of this year, at least before March 2021. We are pilot testing the Korean beef crowd model through the Wadiz platform. We have recorded total sales of over 50 million won.
Our future plans and goals are to make a brand for the smart livestock system developed in this way, develop products, and export these systems and Korean beef products to Japan and Southeast Asia.
Seoul Food Startup Center, which participated in MIK HOT SPOT (Made in Korea Online Exhibition) is providing support to the agri-food-related companies come up with innovative ideas and new products. It is supporting food processing technology, licensing, patents, design, and promotional marketing so that agricultural products can be reborn as high-value products. Various startup support services such as ▴Startup training ▴Mentoring ▴Consulting ▴Investment connection are prepared.
The official of the center said, “We are fostering start-up agri-food companies to help develop new competitive products. This is going to lead to the exports of Korea’s excellent agri-food and create more jobs, becoming a new growth engine for Seoul.”
The global news network AVING News has begun holding the MIK HOT SPOT (Made in Korea Online Exhibition) to help small and medium-sized companies enter the market and attract investment 365 days a year. AVING News has been running online exhibitions since 2005 and had 975 online exhibitions so far. Its YouTube online exhibition has placed itself as Korea’s largest online exhibition hall that opens with 19,000 videos (booths) with more than 800,000 visits per month which means more than 10 million visits per year.
The MIK HOT SPOT online exhibition is scheduled to be held regularly according to the field, target market, and participating institutions, and it will be presented as a new type of online business by transforming the know-hows and values of the participating companies according to the trend. Companies that want to participate can apply and apply through the marketing support projects from supporting institutions in the local governments. Refer to the institutions for more information.