WEMAKEPRICE, Last Year's Transaction Amount 6.4 Trillion KRW, Up 18.5% YoY

Double-Digit Growth for 6 Consecutive Years... Complete Capital Impairment Resolved

E-commerce company Wemakeprice (WEMAKEPRICE) has achieved double-digit growth in transaction volume for six consecutive years. WEMAKEPRICE announced on the 8th that its final annual transaction volume for last year reached 6.4 trillion KRW. Revenue and operating loss were 465.3 billion KRW and 75.7 billion KRW, respectively.

The transaction volume increased by 18.5% compared to 5.4 trillion KRW the previous year. This surpasses the 14.2% growth rate of the entire online distribution sector announced by the Ministry of Trade, Industry and Energy last year. It has grown nearly ninefold from 700 billion KRW in 2013, six years ago.

Revenue was recorded at 465.3 billion KRW, an 8.4% increase from 429.4 billion KRW in 2018. Since switching to an open market in August last year and strengthening win-win activities such as the 'New Partner Support Program,' commission revenue from brokerage sales grew 14.3% year-on-year to 345.5 billion KRW. However, operating loss increased by 94% from 39 billion KRW the previous year to 75.7 billion KRW.

Notably, a stable financial status was established. At the end of last year, WEMAKEPRICE attracted investments worth 370 billion KRW, turning total equity positive and resolving complete capital erosion. Based on this investment, WEMAKEPRICE created a foundation for sustainable growth by recruiting excellent talent, lowering commissions for new partners, and providing faster settlement support. As of March this year, the number of WEMAKEPRICE employees was 1,874, a 5.5% increase compared to 2018, and the number of partners also increased by 32%.

WEMAKEPRICE plans to continue solid external growth this year with a goal of double-digit transaction volume growth. The strategy is to further strengthen market influence through aggressive investments such as ▲mass recruitment of new partners ▲hiring 1,000 merchandisers (MDs) ▲platform upgrades. Park Eun-sang, CEO of WEMAKEPRICE, said, "We will build an online platform that saves customers' money and time by securing a wider range of product categories with WEMAKEPRICE's price competitiveness," adding, "We will also spare no aggressive investment to create a virtuous cycle structure where more small and medium-sized partners can succeed together with WEMAKEPRICE."