[Jeon Hwa-sung's Startup Morning Coffee Ep. 1109] The Secret to New&D's Growth

'Startup Morning Coffee' is a YouTube program hosted live by CEO Jeon Hwa-sung every day at 8:40 AM on the 'Jeon Hwa-sung's CNTV' channel. This program deeply illuminates the core competencies and market potential of various startups, and through interactive communication with viewers via live comments, it has firmly established itself as a useful information platform for those interested in the startup ecosystem. The company highlighted this time is New&D. New&D operates 'VEASLY,' a K-trend reverse direct commerce vertical platform that helps overseas consumers easily and conveniently purchase Korean products. While the explosive popularity of Hallyu content has led to a surge in overseas demand for Korean products, existing problems such as the absence of local sales channels, high prices, and the lack of foreign currency payment and international shipping support from online shopping malls have remained high barriers to purchase for overseas consumers. VEASLY presents an innovative solution to resolve this information asymmetry. By simply entering the URL of a product found on social media or in other media, users are provided with all necessary purchasing information at a glance, including prices converted to local currency, shipping fees, and customs duties, thereby simplifying the complex purchasing process. New&D is currently accelerating its growth through CNTTECH's Campus Town support program. The core competitiveness of the VEASLY platform lies in helping overseas consumers purchase the latest trending Korean products at reasonable, non-inflated prices. Notably, it successfully completed MVP (Minimum Viable Product) validation with Taiwan as its first target, proving its growth potential. It recorded sales of 430 million won in the first quarter of this year alone, showing explosive growth with annual sales expected to exceed 2 billion won. Its high average order value (AOV) exceeding approximately 200,000 won and a remarkable conversion rate where 24 out of 100 new members make an actual purchase clearly demonstrate VEASLY's strong market dominance. With the application of zero-rated tax for exports and customer commissions as its main revenue sources, it has established a stable business model. CEO Jeon Hwa-sung highly praised the New&D team, stating that through two experiences of failure, they have acquired robust execution capabilities to build customer-centric services. He emphasized that in a situation where overseas demand for Korean products is steadily increasing alongside the global spread of K-content, VEASLY has ample potential to secure a unique position in the international reverse direct commerce market by resolving information asymmetry and maximizing purchase convenience. New&D is highly anticipated to continue contributing to making diverse Korean products more accessible to overseas consumers and to grow into a significant pillar in the global e-commerce market.