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Lee In-seop, CEO of Mark Vision, said. On the 30th of last month, we met with CEO Lee at WeWork Tower in Seolleung, where the company is located. Mr. Lee, who started his business at a young age, felt both mature intelligence and warm humanity.
Representative Lee has a unique story. After leaving Harvard’s Department of Economics, he worked at the German central bank, then moved to McKinsey to take over corporate consulting amidst European electronic and financial conglomerates struggling with IT startups.
Then I changed my course and went to law school to study, while taking a class on intellectual property rights, I found a business opportunity. He said that after learning about this intellectual property market, he thought, “Let’s do business.”
“In the case of IP industry, there are five global IP protection agencies. There are only 300-500 monitoring agents. These places have labor costs, so it is difficult to lower the price. I think to solve this with program automation will be a victory. I did. “
Mark Vision, founded on the idea inspired by CEO Lee, monitors online shopping malls around the world in real time and protects corporate intellectual property rights. Mark Vision analyzes uploaded photographic images using ‘I Vision’, a deep learning algorithm for image analysis developed by himself, and also analyzes prices, seller information and reviews to determine if this is genuine.
In this way, it sends the determined content with an accuracy of 90% or better to the client through AI. When the customer sees this, makes a final judgment and presses the report button, the report is processed simultaneously with the same content for each eCommerce company. The results of reports requested by clients can also be checked immediately through the status dashboard. Compared to what humans do, it has automated more than 90%.
Currently, Markvision monitors American shopping malls like Amazon and eBay, Chinese malls like Alibaba and Taobao, Lazada in East Asia and Coupang in Korea, and recently added Naver among national malls.
The number of targets to be monitored increases gradually. CEO Lee noted that next year it will expand to Instagram. In addition, Instagram added that it is very difficult for a person to monitor one by one, so systems like Mark Vision are more suitable.
“Comparing the vision of Facebook and the Markvision system of two weeks ago, our system showed 30% more accuracy in the classification of authentic and fake products. Of course, Facebook is not specialized in services like ours, but the deepest This means that the learning algorithm is producing significant results that are specific to this field. ” Representative Lee emphasized.
Representative Lee established a corporation in the US in 2019 with two Canadian developer friends and entered Korea in the form of a Korean branch. Representative Lee thought the Korean market was promising from the beginning of the project. As the so-called ‘Korean Wave’ and the K-pop craze exploded, Korea, which used to consume American or European brands, is now facing the problem of intellectual property infringement as its brand becomes popular.
“I saw Korean Wave in four main categories: Korean fashion, beauty, food and content. Currently, the top three food companies use our service. And mid-size premium fashion and beauty companies also use our service. In recent years, content like Naver Webtoon it is also going global, causing intellectual property infringements.
Additionally, the monthly subscription-type revenue structure became the driving force to quickly liquidate Mark Vision. Currently, the cheapest Mark Vision program is in the mid-range of 1 million won per month. Because of this, even small and medium-sized businesses can tell if their products are being stolen without much charge. Considering that few companies sell immediately after the founding of the company, Mark Vision’s growth engine is strong, Lee said.
Mark Vision’s vision is not just limited to Korea. Taking advantage of the growth in Korea, he plans to grow his business in the United States. “In fact, recently, global clothing brands have come together and I heard that the number of detections related to trademark theft has increased by 20-30% compared to before using Mark Vision. I am proud.” He said.
Going forward, the goal is to gradually increase the number of places that are monitored by Instagram, as well as more customers. When asked to tell us about his plans for the future, CEO Lee thought carefully and gave the following response.
“The goal is to secure up to 1000 clients in two years. Currently, the agency with the most clients in the world now has 700. The number one dream in the world is a dream. Isn’t that a realistic achievable goal?” “This is CEO Lee’s strong ambition.
