WeMakePrice posts losses, but says its sales are up

E-commerce company WeMakePrice reported 465.3 billion won ($415 million) in sales last year.

The sales represent an increase of 8.4 percent from 429.4 billion won in the year before, the company announced Wednesday.

Its operating profit, however, dipped 94 percent on-year from 39 billion won in 2018 to 75.7 billion won last year.

The company said it processed a total of 6.4 trillion won in transactions last year.

WeMakePrice said in a statement that it aims to continue two-digit growth in its overall transaction amount.

“WeMakePrice will establish an online platform that can save consumers money and time by securing diverse categories of products with competitive prices,” the statement said.

“We’ll invest aggressively to create a cycle that will help more mid- to small-sized partners become rich with WeMakePrice.”

The company recently secured 370 billion won in investments from its parent company, Wonder Holdings, and IMM Investment.

By Jin Min-ji