Setoworks (CEO Chungyeon Cho) has been externally recognized for its expertise as a global crowdfunding agency.
On June 6, Setoworks announced that it was designated as a Specialized Trade Representative at the '2023 Specialized Trade Representative Day' event hosted by the Ministry of Trade, Industry and Energy and the Korea International Trade Association at COEX in Seoul.
'Specialized Trade Representative' is a system of specialized export agency companies designated by the Ministry of Trade, Industry and Energy (MOTIE) to help small and medium-sized enterprises that lack export experience to expand overseas.
Only 330 companies, including Samsung C&T, have received the designation (as of 2023), which recognizes the company as a "helping company" that helps stabilize and manage the overseas expansion of excellent product technology companies.
Setoworks was awarded the Minister of SMEs and Startups Award for achieving an average export value of more than USD 1 million for three consecutive years and supporting one-stop export for more than 400 domestic companies, and was also honored as a specialized trading company.
In particular, Setoworks was recognized for providing one-stop full-service for domestic exporters through exclusive and official partnerships with global crowdfunding platforms such as Kickstarter and Indiegogo in the U.S., Makuake in Japan, Zeczek in Taiwan, Wadiz in Korea, and Modian in China, leading more than 550 projects and approximately KRW 23 billion in funding and subsequent trade, with 40 professional staff in six countries.
In addition to the three-year designation, Setoworks will receive a variety of incentives from the Ministry of Trade, Industry and Energy (MOTIE) and trade associations, including matchmaking for promising companies, discounts on short-term export insurance from the Korea Trade Insurance Corporation, free credit checks for KOTRA overseas buyers, overseas marketing, and overseas branch offices.
"Through this designation, we will help domestic companies' excellent products quickly enter the global market through crowdfunding and B2B2C e-commerce," said Cho Chung-yeon, CEO of Setoworks. "We plan to discover overseas markets for products and companies through the latest, optimized content and marketing solutions, and provide marketing solutions so that domestic companies do not wander in the growing global digital trade market based on our vast 300,000 buyer data and 2.5 million overseas consumer data."
Electronic News Agency, Park Dong-sun firstname.lastname@example.org