Bungaejangter Surpasses 1 Million Monthly Transactions

Monthly Transaction Volume Surpasses 90 Billion KRW

Used goods trading platform Bungaejangter announced on the 19th that as of February this year, the total monthly traded items exceeded 1 million, and the monthly transaction amount surpassed 90 billion KRW. This is the highest number of transactions since the service launch.

Bungaejangter explained that the safety and convenience of the safe transaction policy, fully implemented last August, led to increased trading activity. In August last year, Bungaejangter fully introduced an escrow-based safe payment system. Comparing July 2024, the month before the introduction, with February this year, the number of peer-to-peer transactions on Bungaejangter increased by 299%, and the transaction amount rose by 116%. The total number of buyers increased by 138% during the same period.

Six months after the introduction of safe payment, the number of individual users utilizing used goods trading through the Bungaejangter platform also more than doubled. Bungaejangter's monthly active users (MAU) in February recorded 6.8 million.

The introduction of a payment policy that buyers can trust also resulted in products selling faster. Bungaejangter's sales completion rate within 14 days nearly doubled six months after the introduction of safe payment. In particular, transactions operated by professional sellers in ‘Pro Shops’ (B2C) increased by 69% in number and 52% in transaction amount.

A Bungaejangter representative said, “The reason safe payment is well received is due to the settlement function through buyers' purchase confirmation,” adding, “In peer-to-peer used goods trading, where buyers have to rely solely on product information provided by sellers and refunds are difficult, the purchase confirmation function of safe payment plays a role in blocking the anxiety and concerns that buyers had to endure.”