Bunjang gains attention for growth model in Europe
Representatives from Korea's Ministry of Economy and Finance and Poland's Ministry of Economic Development and Technology pose during the final reporting workshop and high-level policy dialogue of the 2024/25 Korea-Poland Knowledge Sharing Program in Warsaw, Poland, Monday (local time). Courtesy of Bunjang
Korea's leading recommerce platform Bunjang is gaining attention for introducing its growth model, the company said Thursday.
According to a Bunjang official, it delivered a presentation during the final reporting workshop and high-level policy dialogue of the 2024/25 Korea-Poland Knowledge Sharing Program (KSP) in Warsaw, Monday (local time).
The event was hosted by Poland’s Ministry of Economic Development and Technology, and a number of the ministry’s key figures, including its Secretary of State Michal Jaros and Digital Economy Director Marianna Sidoroff, participated. Representatives from major stakeholders such as Eastern Europe’s largest e-commerce platform Allegro and Poland’s lobby organization for ICT businesses also joined the event.
During the presentation, Bunjang emphasized the platform’s technological advancements.
“The platform uses an AI (artificial intelligence)-based real-time fraud monitoring system and secures escrow payment service,” Bunjang Global PR Lead Yeom Seung-hoon said during the presentation. “It has reduced fraud rates by over 80 percent and doubled transaction volume.”
He also introduced the company’s other elements, such as checking the authenticity of seller goods and AI-powered multilingual search and translation tools, emphasizing that 76 percent of its users are millennials or Gen Z consumers.
“Korea’s achievements in digital transformation policy serve as a valuable benchmark,” Jaros said. “We hope this event paves the way for deeper Korea-Poland business cooperation.”
Sidoroff said in her keynote speech that small and medium-size enterprises (SMEs) constitute 45.3 percent of Poland’s gross domestic product and employ more than 10 million people. She noted Korea’s digital transformation cases offer valuable insights for shaping Polish policies and expressed hope for increased collaboration with innovative companies like Bunjang.
In May, the delegation from the Polish government visited Korea as part of the KSP program to meet leading tech firms here. Local tech giants Naver, AhnLab and Bunjang joined the meeting to showcase Korea’s digital ecosystem.
Initiated by Korea’s Ministry of Economy and Finance, the KSP aims to share the country’s policy knowledge and development experience with partner countries. The Korea-Poland KSP, the first bilateral project between the two countries, focuses on enhancing SME competitiveness and formulating long-term digital innovation policies.