What are the settlement currency and exchange rate criteria for global projects?

The settlement cycle and percentage of global projects will be exactly the same as general projects in Korea, depending on the type of project you participated in (funding/preider).

Manufacturers with business registration locations in Korea are as safe as before even if they proceed with global projects Settlement of KRW (KRW) and payment of domestic accountsYou will receive . As a global project, there is no difference or change in the settlement method or ratio of won.

 

The term "global project" means a project in which the countries where rewards can be delivered are established, including Korea and outside of Korea, among projects posted by the maker, and overseas supporters can also pay and participate. ※ Only supporters in Korea can pay and participate in general projects that are not global projects.)

 

 

✅ Global project settlement cycle and rate

Depending on the type of project you participated in (funding/preoder), the exact same settlement cycle and split ratio as the general domestic project will be applied.

Even if you have carried out a global project, there is no difference or disadvantage in a separate settlement method for domestic makers.

Type of Service Funding Free order - Domestic only Preorder - Special Configuration Free Order-Limited Edition
a settlement policy Payment completed less than 10 million won Payment completed is less than 10 million won The final settlement amount deducted after the delivery of the product or service, etc 

Selection calculation: Amount deducted from expenses such as commissions from 80% of the payment completion

Final settlement (post settlement): final settlement after deducting the selected settlement amount and refund amount, etc

Payment completed at least 10 million won Payment completed at least 10 million won

Selection calculation: 60% of the payment completion deducted from expenses such as commissions

Final settlement (post settlement): final settlement after deducting the selected settlement and refund amount

 

✅ Payment method and billing and payment process for supporters outside of Korea

The details of payment made by supporters outside of Korea through the global project will be paid to the maker in Korean won through the following global billing and conversion criteria.

 

Standard for payment and billing of supporters outside of Korea (Stripe Reservation Payment)

  • Billing by: When global supporters from outside the United States, including U.S. supporters, pay, the supporters screen will also show the amount in local national currency, but the final card claim and payment will be charged to Stripe based on "U.S. dollars."

  • Maker Settlement: The final settlement and reservation amount based on USD will be converted into final Korean won (KRW) reflecting exchange rate fluctuations in the Wadiz Settlement System and then added to the settlement amount.

  • Domestic Account Deposit: The converted overseas settlement amount will be deposited (paid in won) only to the domestic account registered by the maker along with the domestic settlement amount, and direct foreign currency payment or overseas account payment is not supported.

 

✅ Classification of settlement statements for Korean and non-Korean payments

The payment data of Korean supporters and the payment data of supporters outside of Korea are divided into stages and the settlement statement is provided.

  • When calculating the selection: Korean payment details and overseas payment converted from dollar to won are integrated into one set of settlement statements.

  • At the time of final settlement: One payment and one overseas payment will be provided separately as separate settlement statements.

 

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