Korea is globally recognized for its remarkably low Customer Acquisition Costs (CAC). With widespread access to the internet through mobile phones and computers, and free connectivity available in places like buses, subways, public institutions, and restaurants, the online environment is highly accessible. Furthermore, the majority of the population is concentrated in urban areas, making marketing efforts significantly easier compared to countries with more dispersed populations.

These factors have contributed to a highly competitive online marketing landscape in Korea, particularly in the e-commerce sector. Foreign companies are increasingly entering the Korean market, drawn by its advanced internet infrastructure, urban density, and low customer acquisition costs. Among these ambitious entrants is 24TTL Korea.

24TTL Korea is the Korean branch of 24TTL, a global company headquartered in Dubai, UAE, with additional branches in Amsterdam, Mexico City, Jakarta, and Seoul. The company specializes in the MENA (Middle East and North Africa), APAC (Asia-Pacific), Latin America, and CIS (Commonwealth of Independent States) regions. It focuses on helping brands achieve competitiveness on the “digital shelf,” which refers to the product display interface within online shopping platforms. Ensuring a consistent consumer experience across various countries and platforms is a significant challenge for global brands. Even with a unified policy from headquarters, applying it consistently across diverse markets remains complex. Additionally, localized content tailored to regional preferences is often required. 24TTL provides comprehensive solutions to address these issues.

One of its core offerings is 24AI, an AI-powered tool for creating visually appealing product imagery. For instance, if a company wants to market shoes, it can upload a photo of the product and choose any background, such as a playground, department store, beach, or street. The AI then integrates the product seamlessly into the selected setting. This functionality extends to other product categories like bags and furniture. The company also offers 24ORM (Online Retail Monitoring), which analyzes trends in online shopping platforms and among competing brands, and 24STREAM, which enhances customer experiences by introducing localized, region-specific elements.

These innovative solutions have attracted a roster of high-profile global clients. On the company’s website, the names of prominent brands such as Samsung, De’Longhi, Procter & Gamble, Hasbro, and BRAUN stand out, showcasing 24TTL’s growing influence in the e-commerce sector.

24TTL’s leadership team brings significant expertise to the table. CEO Yury Shishkin, a Stanford graduate, has a successful track record in e-commerce and has already achieved a successful exit in the past. COO Vitaly Tsoy, with over six years of experience at LG, has deep insights into consumer behavior and market trends. Alexandra Choi, the Korean regional representative, has extensive experience in e-commerce operations, having previously worked with Huawei and AliExpress. This strong leadership foundation has been instrumental in establishing 24TTL Korea and driving its efforts to enter the Korean market in earnest.

24TTL Korea made its initial entry into the Korean market through the K-Startup Grand Challenge 2024, a program designed to support international startups expanding into Korea. Recognizing the importance of fostering a global startup ecosystem, the Korean government has launched initiatives such as the Global Startup Center and a special Startup Korea visa to attract foreign talent and businesses.

With the motto “Successful businesses sell stories and experiences, not things,” 24TTL aims to transform the shopping experience in Korea, a leader in online and e-commerce innovation. As the company continues to establish its presence, industry observers are eager to see the impact it will make in this competitive market.

What problems is 24TTL addressing?

We are addressing the challenges that brands face in adapting to the rapidly evolving digital commerce landscape. This includes ensuring content quality and consistency, where brands need visually engaging, localized, and high-quality content for online platforms tailored to diverse regional preferences. Additionally, many brands struggle with digital shelf optimization, maintaining a competitive presence across numerous online retailers. Another challenge is engaging consumers through dynamic, interactive shopping experiences, particularly with trends like mobile commerce. Finally, the complexity of omnichannel integration leaves brands seeking efficient, streamlined consumer journeys from product discovery to purchase.

How are we solving these problems?

Our approach involves a suite of AI-driven, e-commerce-focused solutions that provide end-to-end support. This includes 24AI, which generates high-quality, customizable product visuals to enhance engagement and boost conversions. 24STREAM provides immersive shopping experiences through rich media and shop-in-shop brand zones, tailored to meet regional expectations. 24ORM gathers actionable insights on consumer behavior, helping brands optimize their digital shelf presence with precise data. Lastly, 24WTB enables seamless omnichannel integration, allowing customers to purchase directly from preferred retailers.

What are our competitive advantages?

Our competitive advantages are deeply rooted in our technology, comprehensive service offerings, and deep regional knowledge. We have advanced AI technology capabilities for visual content creation and analytics that provide brands with visually compelling, data-driven insights that surpass our competitors’ offerings. 

Unlike competitors who may offer niche products, our suite offers fully integrated solutions from content creation to omnichannel distribution and analytics. We also bring localized expertise with a strong presence in key regions, providing culturally relevant and impactful solutions. Furthermore, we prioritize dedicated client relationships, providing personalized and responsive customer service without relying on ticketing systems.

What is the product/service we are providing, and what is its current status?

We offer a comprehensive suite of B2B and B2C SaaS solutions aimed at enhancing digital commerce operations. This includes 24AI, an AI-powered visual content generator launched in 2023 that enables brands to create localized, engaging visuals. 24STREAM, launched in 2020, provides interactive and immersive shopping experiences utilizing AR technology. 24ORM, our analytics platform launched in 2019, facilitates digital shelf optimization. 24WTB, launched in 2020, is an omnichannel solution that directs consumers to various purchase options across third-party retailers. Each product is active and continuously updated with new features.

What is the market size our product/service is targeting, and who are our key target customers?

Our primary market is the global e-commerce industry, which was valued at $107 billion in Korea in 2021 and is projected to grow to $150 billion by 2025. Our key customers are large B2B clients, including major brands, retailers, and marketplaces that have diverse product portfolios and require dynamic content and omnichannel capabilities.

Why did we enter the Korean market, and what are we trying to achieve here?

We entered the Korean market due to its rapidly growing e-commerce sector and the high demand for innovative shopping experiences, driven by the increase in mobile commerce and immersive content expectations. Our goal is to empower Korean brands and retailers with advanced tools for digital engagement, helping them elevate their online presence and reach consumers more effectively.

What is our business model?

Our business model is based on a subscription approach, with an average order value of $2,000. This SaaS model allows brands to access continuous updates, scalability, and ongoing innovation, ensuring they can adapt quickly to changing market dynamics.

What have been our achievements so far, particularly in the Korean market?

In Korea, we have established a legal entity as of November 2023, highlighting our commitment to transparent and compliant operations. We have built strategic relationships with notable Korean companies and industry stakeholders, reinforced through participation in the KSGC program. 

Our first IDRF meetup on March 21, 2024, received significant media attention and participation from industry leaders like Coupang, GS Retail, Kakao, and Naver. We have a second IDRF meetup planned for November 14, 2024, to continue fostering collaboration and engagement among brands and retailers in Korea. We will host speakers from major industry players, further strengthening our presence and influence in the market.

What are our team’s competitive advantages?

Our team comprises industry experts with extensive experience in digital marketing, AI, and e-commerce. Our CEO, Yury Shishkin, a Stanford graduate, brings entrepreneurial expertise and a strategic vision for digital transformation in e-commerce. Our COO, Vitaly Tsoy, has over six years of digital leadership experience with LG and possesses a deep understanding of consumer behavior and market trends. Our globally distributed team of 65 members specializes in AI, computer vision, data analytics, and software development, enabling us to deliver tailored solutions that resonate with clients worldwide.

What do we need most right now to enter the Korean market?

To solidify our position in the Korean market, we require strategic partnerships with leading local brands and retailers to leverage their market knowledge and distribution networks. Additionally, we are open to investment opportunities to scale our operations and strengthen our local presence.

Is there any other information you would like to convey?

In addition to our products, our International Digital Retail Forum (IDRF) serves as a platform for industry collaboration and knowledge exchange. The upcoming IDRF meetup on November 14 will showcase our commitment to supporting the Korean e-commerce ecosystem, helping brands and retailers stay ahead of trends and drive growth through innovative strategies.