Musinsa said on Feb. 13 it will cut consignment selling fees for its fashion resale service, Musinsa Used.

The company plans to simplify its existing fee structure by item price and lower the rates to increase settlement benefits that sellers feel.

Musinsa Used will introduce a fee overhaul from Feb. 23 that adjusts and cuts consignment selling fees to a flat 15 percent. It will provide clearer earnings guidance to Musinsa Used sellers and raise actual settlement amounts.

Musinsa will also run additional discount promotions. Applying a 3 percent discount under the promotion to the reduced base fee of 15 percent will lower the fee rate to 12 percent. If sellers choose settlement in Musinsa Money points instead of cash, Musinsa will apply an additional 3 percentage point discount to the consignment fee, bringing it down to 9 percent.

Musinsa also adjusted product preparation costs to 7,000 won from 5,000 won. It explained that the lower consignment fee rate is designed to reduce sellers' total cost burden.

The reduced fee policy will apply to items whose sale is confirmed or completed after 6 a.m. on Feb. 23.

A Musinsa official said, "We focused on improving the probability of sale by raising the quality of our product preparation service, while materially increasing the settlement amount that customers feel through lower fee rates." The official added, "We will continue to create a convenient consignment process and a reasonable earnings structure."