Hecto Innovation, an IT-based information services company, said its participatory platform RROUND is running a lowest-price guessing challenge.

The challenge is a lowest-price auction in which consumers set the purchase price themselves. Each week, participants submit bids of at least 100 won and less than 100,000 won over seven days for a single product. The participant who offers the lowest price that does not match anyone else can buy the product at that price. Users can join only after earning attempts by completing missions within RROUND, and there is no limit on the number of entries.

RROUND's lowest-price guessing challenge offers benefits with a weekly selection of items such as luxury goods and popular IT devices. In the most recently completed challenge, a Nintendo Switch 2 valued at 648,000 won and an iPhone 17 Pro valued at 1.79 million won were sold for 2,295 won and 3,385 won, respectively. Users can currently join a challenge for a Garmin Fenix 7 Pro valued at 1.29 million won, and the platform plans to open items such as beauty devices, Bluetooth speakers and robot vacuum cleaners each week.

RROUND is a participatory commerce platform run under the slogan “a pricing formula smashed by challenges.” It offers benefits such as discounts, RROUND lotto and points each time users take part in a challenge.

Hecto Innovation is continuing to expand challenges that offer benefits customers can feel. It runs a “lowest-price guaranteed group buying challenge” that selects 2 items each week, such as daily necessities and home appliances, and sells them at prices lower than the lowest online price when a target number of participants is reached. It also recently wrapped up a “Santa's gift box” promotional exhibition held for Christmas.

Hecto Innovation is expanding the range of lowest-price benefit items by continuously launching new challenges within RROUND. It is also creating a new e-commerce platform differentiated from existing e-commerce through price innovation.

A Hecto Innovation official said, “Since its launch, RROUND has received strong responses from users by presenting new shopping methods that break existing e-commerce pricing formulas, including the ‘lowest-price guessing challenge’ and the ‘lowest-price guaranteed group buying challenge’.” The official added, “We plan to continue rolling out a range of challenges that fit RROUND's concept of lowering prices through challenges.”