WiLaser Wins Grand Prize at MOTIE's AI Logistics Innovation Competition

WayRazer Wins Grand Prize at E-commerce Pitch Festa with AI-based Tariff Optimization Technology WayRazer, an AI-based logistics innovation company, proved its innovative technological prowess in the logistics industry by winning the grand prize at the '5th E-commerce Pitch Festa' held at COEX, Seoul, on the 13th. Notably, it also simultaneously received the Minister of Trade, Industry and Energy Award, achieving a remarkable feat of being recognized for both its technological capability and market value. The 'AI-based Tariff Optimization Service' showcased by WayRazer dramatically improves the complex and inefficient customs clearance process. This service is an innovative solution where AI automatically analyzes logistics-related documents such as B/L (Bill of Lading), invoices, and packing lists to apply optimal agreed tariff rates and automate the customs declaration process. By having AI process complex HS code classification and tariff calculation, which were previously handled manually, with 99% accuracy, it boasts remarkable efficiency, reducing customs clearance time by an astonishing 85%. WayRazer explained that this effectively alleviates the burden of document processing, which has increased more than threefold compared to cargo volume. Kim Hyun-jong, CEO of WayRazer, emphasized, "This award is a result of the official recognition of the market necessity for AI tariff optimization technology. Through over 100 logistics-specialized AI agents and our independently developed MLMC algorithm, we are simultaneously achieving compliance with international regulations and tangible tariff reductions." At the event, WayRazer shared the honor of receiving the Grand Prize with InnoFriends, which was recognized for its smart logistics recognition solution utilizing AI-based invisible UR code technology. The Excellence Award went to Sendy and Plan B, while six companies — Kkun, Lalastation, Sealifesciencelab, CTKEvisionGlobalNetworks, Outcome, and Haekle — received the Outstanding Award. WayRazer is currently successfully providing its AI tariff optimization service to major clients, proving its effectiveness, and plans to spread AI innovation to the global logistics market through future expansion into Asia and North America. Meanwhile, WayRazer was previously recognized for its growth potential by being selected as a participant in the 'IBK Changgong' Daejeon Batch 3, an innovative startup incubation program operated by IBK Industrial Bank of Korea.