One store, a native app market, announced a policy of reducing commissions of up to 50% for mutual growth of SMEs. As the two major app markets, Google Play and Apple App Store, are experiencing a 30% fee controversy, it is calculated that they will expand the ecosystem through this policy.
On the 8th, One Store announced that it would reduce the commission by 50% for businesses with a monthly transaction amount of 5 million won or less by the end of 2021. One Store explained, "It is a full-fledged decision to support small and medium-sized enterprises and individual developers who are suffering from the prolonged corona 19 crisis and promote the development of the domestic industry through win-win growth."
This policy targets all contents in One Store. The reduction policy will be implemented immediately, and the benefits will be applied retroactively to contents that have been traded in October.
According to One Store, there are currently 16,000 companies and developers who can receive fee reduction benefits according to the implementation of this policy. One Store predicts that the number of target companies will increase as the number of stores expands.
Since July 2018, OneStore has been implementing a policy of lowering 30% of app market fees to 20%, and reducing it to 5% when using its own payment system. According to Wonsto, commissions saved by developers from the third quarter of 2018 to the second quarter of this year amounted to about 75 billion won.
One Store achieved 8 consecutive quarters of growth from the third quarter of 2018 to the second quarter of this year after the commission cut.
Lee Jae-hwan, CEO of One Store, said, “As Korea's leading app market, One Store is proving that it can achieve win-win growth and corporate growth at the same time. This policy strengthens the roots of the domestic industry, I hope that it will help them advance to the world stage.”
On the other hand, One Store was launched in 2016 as a local app marketplace jointly created by three domestic mobile telecommunication companies and Naver based on SK Telecom's'T Store'. According to the mobile data analysis company IG Works' Mobile Index aggregate standards, OneStore recorded 18.4% of domestic mobile game sales in August.
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