WEMAKEPRICE Lowers Minimum Commission to 2.9%..."A Bold Move to Compete with Platforms"

Breaking Away from Variable Fees by Product on Existing Open Markets... Adoption of Platform Models like Naver and Kakao
Industry's Lowest Fees Compared to Portal Operators' 5%+ Commissions... Expanding New Partner Participation

[Asia Economy Reporter Kim Cheol-hyun] WEMAKEPRICE is abandoning the existing open market commission method and introducing the industry's lowest commission rate of 2.9%, based on a portal-style system. The strategy is to reduce the commission burden on partners and provide customers with a wider variety of products, thereby enhancing competitiveness in the e-commerce market.

WEMAKEPRICE announced on the 21st that it has completed the pilot operation of the new portal service commission policy for partner companies, which has been tested since February, and will officially implement the platform's lowest commission rate of 2.9% going forward.

The newly introduced 2.9% commission rate by WEMAKEPRICE includes electronic payment gateway (PG) fees, making it the lowest in the industry even compared to platform operators like Naver and Kakao. Portal-based platform operators such as Naver Smart Store apply commissions exceeding 5% by adding separate payment fees on top of sales-linked commissions. Moreover, considering that the Fair Trade Commission announced last December that the average commission rate for online shopping malls was 13.6%, WEMAKEPRICE's new policy is expected to significantly reduce the commission burden on partner companies.

Along with introducing the portal-style lowest commission rate, WEMAKEPRICE has also dismantled the existing tiered commission system by product category used by open market operators. Currently, open market operators charge different commission rates depending on the product category. For example, men's casual wear is 15.4%, books 11.6%, and digital devices 12.8% (based on the Fair Trade Commission's average commission rates for online shopping subcategories), with each product having a different sales commission rate.

WEMAKEPRICE plans to operate the newly introduced portal-style 2.9% lowest commission system as its own commission structure, not as a temporary promotion. From a long-term perspective, it expects to reduce the commission burden on partners and provide customers with a wider variety of products. Additionally, by applying a cost-per-sale (CPS) method, it plans to add promotions that guarantee high efficiency, significantly exceeding the industry average in terms of sales relative to advertising costs, for new partners participating in WEMAKEPRICE special deals.

A WEMAKEPRICE official emphasized, "We plan to further strengthen the platform's core role to provide customers with a variety of products and enable more partners to grow together."