LG Uplus Sells Wadiz Funded Products on 'Teum'

[Asia Economy Reporter Kang Nahum] LG Uplus announced on the 7th that it will sell funding products in the MZ communication community 'Ilsangbi Ilsangui Teum by U+ (hereinafter Teum)' in partnership with Wadiz, the largest funding platform in Korea.

Crowd funding company Wadiz provides entrepreneurs who want to start a business with a business starting point through funding. It supports small business owners and venture entrepreneurs in investment, prototype production, and product launch of their services and products, realizing innovative ideas and creating social value.

The two companies have set up a dedicated Wadiz experience space on the 3rd floor of Teum located in Gangnam, Seoul, and sell about 20 funding products. In March, various products related to beauty, IT, home, and travel, such as vegan cosmetics, dual screens, Bluetooth speakers, and camping lanterns, which were popular on Wadiz, will be exhibited.

At Teum, customers can directly touch, use, and participate in funding for Wadiz funding products. In addition to funding products, about 40 products placed in the 'Store Zone,' where immediate purchase is possible on-site, offer a 5% discount when installing the Teum app on a smartphone, and a 10% discount for LG Uplus subscribers.

The two companies plan to measure the interest level of customers visiting Teum and collect customer responses through staff in the store. They will provide reports so that funding entrepreneurs can use them to improve quality and usability.

Wadiz, which operates an online-centered sales channel, has secured offline customer contact points through this cooperation, and LG Uplus expects to contribute to 'social circulation' by supporting the spread of young entrepreneurs' idea products in the market.

Jung Suheon, head of LG Uplus Consumer Division, said, "Like Wadiz, which realizes innovative ideas of young entrepreneurs, LG Uplus will promote the 'Why Not' campaign, which challenges customer value innovation through Teum, a communication channel with the MZ generation."

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