Mirae Asset Daewoo Supports K-Fashion Online Exports with Simple Payment Technology

[Asia Economy Reporter Song Hwajeong] Mirae Asset Daewoo announced on the 10th that it has opened the Dongdaemun clothing market online mall 'Dongdaemun Jeongseon' (東大門精?) on the Chinese national messenger WeChat's 'Mini Program' in collaboration with fintech company Iamform.

Dongdaemun Jeongseon is the name of the online mall formed by recruiting franchises from the Dongdaemun clothing market to enter the WeChat Mini Program. Due to the impact of the novel coronavirus infection (COVID-19), offline market sales have sharply declined, and small business owners of Dongdaemun clothing stores can solve shopping, payment, and logistics all at once online targeting local Chinese consumers just by entering the platform.

Dongdaemun Jeongseon was created through the synergy of Mirae Asset Daewoo's global easy payment technology and Iamform's platform development technology.

Mirae Asset Daewoo already entered the global easy payment market earlier this year by signing an official agreement with Tencent, the first securities company to do so, and launched the easy payment platform 'ShootPay' targeting Chinese tourists. Currently, it is rapidly pioneering the market with over 1,700 franchises centered around Dongdaemun.

In a situation where it is difficult to attract overseas tourists due to the impact of COVID-19, Mirae Asset Daewoo proposed a method for Dongdaemun clothing market small business owners to export K-fashion locally online using the easy payment agreement with Tencent, which led to the birth of Dongdaemun Jeongseon.

The Mini Program is an app-in-app (APP IN APP) service that runs within the messenger WeChat without a separate download and is closely used in the daily lives of Chinese people for shopping, transportation, finance, and more. With high user convenience, it has 400 million daily users and an annual sales scale reaching 207 trillion won.

A Mirae Asset Daewoo official said, "We hope this entry of K-fashion into the Chinese online market will be an opportunity to open new avenues for many small business owners," and added, "We will do our best to fulfill our role as a social enterprise that can provide even a little help to small business owners struggling with sales due to the impact of COVID-19."

Mirae Asset Daewoo, together with Iamform, operates an application channel for franchises and corporations wishing to enter Dongdaemun Jeongseon and develop Mini Programs.

This content was produced with the assistance of AI translation services.