From Lowest Price to Value, V-Labs Introduces MyV, a Participatory Value Consumption Platform
Up to 38% rewards on purchases and recommendations, a follower-based, continuous rewards structure secured by 9 patents.
Expanding e-commerce with a 200% average annual growth rate and a global "MyV official store"
In the retail market, "lowest price" has long been the absolute standard for consumption. Consumers chased the lowest prices, and companies competed on price, sacrificing quality and value. However, small and medium-sized businesses were the first to suffer in this structure. Brand and product promotion opportunities became dependent on large distribution channels, margins dwindled, and long-term growth was hindered. In this reality, VLabs found a new path. Its vision is "From Lowest Price to Value—A Paradigm Shift in Consumption." It is a declaration of moving beyond an era where consumption is defined solely by price, creating a structure where consumers recognize the value of a product and companies share that value.
V-Labs was born from this very problem. We launched "MyV," a participatory value consumption platform that provides consumers with reasonable compensation and increased real income, while providing new sales channels and growth opportunities for small and medium-sized businesses.
Earn up to 38% on purchases and recommendations, plus accumulated follower rewards… Patent-protected, transparent rewards.
CEO Lee Jang-wook emphasizes, "A structure where good products are eliminated through simple price competition is detrimental to everyone. A truly virtuous cycle is one where consumers recognize value and companies share in rewards and growth." He began his career in a small to medium-sized company (SME) rather than a large corporation immediately following the 1998 Asian financial crisis. He subsequently worked at both mid-sized and large companies, and then took on OEM and ODM roles, witnessing firsthand the realities of countless SMEs.
"Small and medium-sized businesses, despite creating great products, were unable to connect directly with consumers and were thus forced to depend on large distributors," this experience soon led to his founding philosophy. This awareness of the need to create a structure where consumers and small and medium-sized businesses coexist, rather than simply selling products on behalf of distributors, became the starting point for V-Labs.
MyV's most notable feature is that it transforms consumption into income, not just spending. 7-10% of purchases are accumulated as points, and when you recommend a product and build a following, approximately 28% of that follower's purchase amount is returned as cumulative rewards. Unlike existing one-time affiliate links, MyV differentiates itself with its "follower-based, ongoing rewards structure." This entire process is transparently disclosed in real time. Consumers can immediately check their accumulated points and the activity of their follower network through "My Office."
"Rewards without transparency won't last long. Consumers need to see and trust the data themselves," says the CEO. V-Labs' reward structure isn't just a simple idea. Nine registered patents currently support its core functionality. Key features include a consumer referral-based transaction reward system, link tracking and follower matching and reward accumulation logic, a small business product verification and authentication system, a member-based consumer funding model, and accumulated reward management technology. He explains, "Patents aren't just a defensive measure; they're a safety net that allows us to grow together with our partners." Indeed, thanks to its patent portfolio, V-Labs is recognized by investors as having a "barrier to entry that's difficult to imitate."
A value-added consumption ecosystem expanding with selective entry, customized products, and overseas "MyV" stores.
V Labs adheres to the principle of "selective entry." Instead of randomly expanding its product line, it carefully selects categories with high repeat purchases and high reliability, such as cosmetics, healthcare, and beauty devices. It has launched skincare and beauty device products through its beauty brands "Sosure" and "Pearlcare," some of which have been recognized as excellent products at the Seoul Awards, proving their marketability. V Labs is also pursuing customized product development. The company plans to create a structure where consumers are directly involved from the planning stage, from cosmetics based on personal skin data, to a DNA analysis-based health supplement subscription service, and even new product launches through micro-funding. Through this, consumers will no longer be mere consumers, but "V Sumers," partners who earn income through valuable consumption activities.
The company also has a clear global strategy. Starting with Japan and Southeast Asia, it plans to open "MyV Official Stores" to build a global sales network centered on K-beauty and K-healthcare. In the long term, it plans to operate its own overseas platform. Furthermore, it is considering opening offline select shops in collaboration with local partners.
Since its launch, MyV has grown rapidly, achieving over 200% year-over-year growth. This year, it is projected to more than double, reaching approximately KRW 1 billion. Adding OEM and ODM operations, the company's overall size is expected to grow beyond its platform. Investment is also under active consideration. Executives from listed companies participated in the angel investment round, and the company is currently preparing for a pre-series round, focusing on strengthening performance marketing and enhancing product curation. He stated, "Having proven a structure that benefits both SMEs and consumers, we will focus on expanding this ecosystem going forward."
“Management through the Four Arithmetic Operations” — Towards a Richer Ecosystem Together
V Labs' philosophy goes beyond simply being a platform for profit. The company collaborates with organizations for the visually impaired to conduct blind product test competitions and pays participants for their contributions, creating new jobs. They are also discussing the possibility of incorporating Braille notation into product packaging. He explains, "We want to create a structure where people with disabilities can participate as professional judges, rather than simply donating." These ESG activities are seen as examples of translating the platform's philosophy of value-driven consumption into action, rather than simply promoting "brand image."
CEO Lee Jang-wook's philosophy is simple yet powerful. He describes V-Labs as a "management based on the four basic operations." He explains, "We eliminate unnecessary costs (-), add good partners and customers (+), multiply value through collaboration (×), and share the results widely (÷)." He added, "MyV aims to become a hub of an ecosystem where small and medium-sized enterprises, consumers, and society all become richer together, rather than a company where the platform alone generates significant profits. We will make value consumption not just a trend, but a new standard in the market."
V-Labs' challenge goes beyond simply innovating shopping. It envisions a new economic structure where consumers become both producers and investors, expanding into a shared ecosystem where businesses and society thrive together. Through the platform "MyV," CEO Lee Jang-wook and V-Labs envision a future beyond a mere marketplace for transactions, but rather a new consumption formula driven by the circulation of trust and value.
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