Leading South Korean mobile-first horizontal HelloMarket has introduced a safe payment service that acts an escrow facility until transactions are completed.

If goods are not received, the payment amount is refunded to the buyer without payment to the seller. The buyer is responsible for paying the service charge — a flat fee of 490 won ($0.42 U.S.) during the promotional period.

Seoul-based HelloMarket was founded as a c-to-c marketplace for second-hand goods, vehicles, jobs, and properties in April 2011. Its Android app has been downloaded more than 1 million times.

The marketplace has been growing at an annual average rate of 200 percent since its launch. It competes with general marketplaces Findall.co.kr and Seoul.Craigslist.org.

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