Article: "Can it read this?" Document AI that understands context... Post office reception time significantly reduced

Starting soon, the time spent waiting in line at post offices to send parcels or mail is expected to be greatly reduced. This is because AI (Artificial Intelligence) technology has been integrated into the previously manual process of mail reception, making it possible to streamline operations.

At the core of this streamlined service is Lomin, a document AI startup that has developed a specialized recognition model for five types of documents, including parcel reception forms and handwritten deposit documents. From September of last year to April of this year, Lomin conducted a pilot project with the Korea Post and decided to expand the system's operation to 100 post office counters within the year.

During the pilot, Lomin's document recognition rate reached 95%, and 94% of the recognized data could be used immediately for practical work without separate verification. In January, Lomin was recognized for its contribution to the digital technology development of the postal service and received a commendation from the Minister of Science and ICT.

TextScope, a solution that greatly shortens work processes

Lomin was founded in May 2018 by CEO Kang Ji-hong. The direct motivation for starting the company was his experience in the field of computer vision at Samsung Electronics and his subsequent return to school for a Ph.D. in computer vision at Seoul National University.

Kang stated, "I felt that deep learning, which I first encountered at the company, was a technology that would change the world. I wanted to combine deep learning with the computer vision skills I learned in school, so I quit my job and started my research." He added, "I decided to start a company while working on various projects during my Ph.D. program."

In its first year, Lomin won second place in the deepfake detection category at the 'AI R&D Challenge' hosted by the Ministry of Science and ICT, receiving a ministerial award and securing a research project worth 400 million won. This project essentially became the initial startup capital. The company has since raised business funds through various national projects.

Romin's main service is 'TextScope,' a high-performance, AI-based document data processing solution. TextScope is an advanced AI that uses OCR (Image Text Recognition Technology) to understand not only handwriting but also context and document structure.

Typically, when a user converts text from a PDF or image into data, the format, such as titles, subtitles, or tables, cannot be transferred, often leading to a loss of overall context. TextScope labels the structure of the document—including titles, subtitles, and tables—like a footnote, creating structured data. It even deduces and fills in words that the camera couldn't recognize based on context.

The data created through this solution can also be used as 'raw data' for other AI services, earning it the reputation of being an 'AI for AI.' Kang explained, "TextScope doesn't just extract text; it recognizes the context of the document. This leads to much more accurate answers when feeding data into an LLM (Large Language Model)."

Contracts with financial firms are progressing, and service development for the trade industry is underway

Currently, TextScope is provided as a server-based solution, primarily to the financial sector (insurance companies, securities firms, and banks) and public institutions. A SaaS (Software as a Service) version has also been fully launched since last year. As of last year, a total of 46 contracts were made, with cumulative sales reaching 10 billion won.

Its strength lies in its ability to process large amounts of data accurately and quickly. By adopting TextScope, Heungkuk Life Insurance was able to complete insurance claim reception, which used to take 1-2 days, in just 10 seconds. Kyobo Life Insurance reduced the time from claim to payment from 4.8 hours to 2.4 hours. This is the shortest time in the industry, based on the Life Insurance Association's disclosure for the first half of 2023.

This year, Lomin was selected for NH Nonghyup's startup open innovation program and is receiving various forms of support. While it has not yet received external investment, it plans to conduct a Series A investment round of 5 billion won soon. The purpose is to expand its R&D workforce to grow the business. With an expanded team, Lomin plans to develop services targeting the trade industry and enter the global market.

Kang said, "The trade industry has a high frequency of English usage and a lot of email correspondence, so the demand for AI is naturally high. We will accelerate our development with the goal of commercializing the service next year and grow into a global document AI company."