Musinsa announced on the 8th that it will pay early settlement fees of 113 billion won to the brands that entered its platform ahead of the Lunar New Year holiday.
Musinsa plans to pay early settlement fees of 113 billion won for brands, including small partner companies that entered the Musinsa Store operated by Team Musinsa and 29CM (Twenty-Nine Centimeters). The payment date is set for the 17th of this month.
Currently, there are over 8,000 brands listed on Musinsa, and over 10,000 partner brands on 29CM, a women’s fashion and lifestyle platform.
A Musinsa official noted, “As we face high expense demands ahead of the Lunar New Year holiday, including employee salaries and raw material payments, we decided to pay early settlement fees to ease the burden on the brands. We plan to continue various collaborations to coexist with domestic small brands.”
Meanwhile, Musinsa is providing interest-free support for production funds to small fashion brands. The amount of support, which began in 2015, surpassed 350 billion won by the end of 2024.