Smart Imports

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How it Works?

Ekimport's AI engine "Aryan" deploys unsupervised learning to form groups/clusters/communities of users based on their trading related habits on the platform. This information is used to predict import/export trends and provide profitable trade recommendations. Aryan learns based on group dynamics and price sensitivity of crowd import deals, user activity, preferences, interaction between exporters and buyers and builds related data models.

Implementation of Artificial Intelligence

There is a lot to learn and perceive about the trading scene of a country by combining the data stream generated on Ekimport and publicly available statistical data for that country. We use Artificial Neural Network (ANN) to form groups/communities around crowd importing deals and learn to predict and recommend trading suggestions for these groups/clusters/communities.

Predictions and Recommendations

Aryan predicts high profit trade deals based on groups/clusters/communities formed on the basis of crowd import deals. Launching a crowd import deal with Aryan's recommendation on pricing, timing and buyer outreach is a valuable insight to quickly start trading.

Resources related to importing in South Korea

The Ministry of Food and Drug Safety (MFDS) is in charge of safety of food, health functional foods, medicines, drugs, cosmetics, medical supplies, medical devices, etc.

Korea Customs Service is the central administrative agency that is in charge of customs duties and collection of tariffs, customs clearance and contraband inspection.

QIA does quarantine of imported animals, livestock products and feed, investigation, management of imported cattle and beef, and quarantine of imported plants, etc.

Korea Medical Devices Industry Association (KMDIA) is the largest medical devices association representing over 900 member companies including manufacturers and importers

Korea National Oil Corporation (KNOC) is the national oil and gas company of South Korea and one of the most important industrial companies in the country.