The Korea Herald

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E-commerce platforms rise among self-employed

By Hwang Joo-young

Published : May 29, 2024 - 15:10

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The Woorishop’s logo (The Woorishop) The Woorishop’s logo (The Woorishop)

South Korea has for the last nearly three decades seen a rise in the number of self-employed individuals who have been forced to start their own businesses due to layoffs and reduced employment opportunities.

With the number of job losses outpacing the number of new hires in recent data, a general increase in involuntary early retirements and the rapid rise of the digital gig economy since the COVID-19 pandemic outbreak, many people here have added side jobs or are working multiple freelance jobs, while others have turned to self-employed entrepreneurship.

However, industry experts warn that the situation is worsening as the self-employment market is already saturated. While the number of self-employed individuals increased last year, the growth rate of operating profits did not even match the nation’s 2 percent GDP growth rate.

In the meantime, The Woorishop, an e-commerce platform solution provider, is gaining traction among office workers and retirees concerned about their vocational sustainability, particularly those who wish to have their own platform for selling goods but lack the necessary technical expertise.

Unlike traditional e-commerce platforms, where sellers simply provide products and consumers spend money, The Woorishop’s platform completely transforms this structure: Through the seller platforms serviced by The Woorishop, up to 90 percent of sales revenues are paid back to consumers as cash rewards.

"Even if your own products aren't sold, you still earn income from the sales of products listed by other sellers on your shopping mall,” explained an official from The Woorishop. “This encourages everyone to focus on offering better products rather than engaging in fierce competition.”

"In addition, The Woorishop offers a wide range of free designs for your shopping mall, allowing for various customization according to the products and services you want to sell," the official added.

The Woorishop does not charge any startup costs for its services, including design management solutions, seller platform licenses, hosting and maintenance.

"When people think of starting a business, they often come up with the concepts of simply producing and selling something, but if you focus on how to effectively promote your online shopping malls to a broader target audience, you can significantly increase your chances of success,” said Jeon Ho-geun, CEO of The Woorishop.

“The Woorishop is an innovative business platform where you can own your shopping mall and sell products at your desired price, ensuring satisfaction for both buyers and sellers.”