How Does Settlement Work for Global Makers?
Last Updated: 2026-08-21
Settlement is probably the thing Makers are most curious about. when a funding campaign ends. Wadiz's settlement process runs in several stages, starting with pre-settlement. It's worth noting that the payout method and the settlement rate at each stage differ depending on the type of project you ran.
Check the settlement process for the type of project you ran. Makers holding a business registration in a country other than Korea are settled according to the policy outlined below.
- Note: Overseas Makers — including those working through an agency — who hold a formally registered business in Korea follow the same settlement method as Korean Makers.
▶️ Korean Maker Settlement Method
01. From submissions made on or after June 1, 2026, the same settlement method as Korean Makers applies
Overseas Makers now follow the same two-stage pre-settlement and final-settlement structure as Korean Makers, with the payout rate and any service fee depending on project type and final payment amount.
| Category | Funding | Pre-order – Domestic Exclusive | Pre-order – Special Bundle | Pre-order – Limited Edition |
|---|---|---|---|---|
| Application method | Pre-settlement and final settlement are paid automatically in two installments, with no separate application or added cost | Pre-settlement is only paid if the Maker directly applies for the Pre-Settlement Service > Pre-Settlement Service Application Form When applying, you must submit a business registration certificate that exactly matches the business information registered in Maker Studio |
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| Settlement method – Final payment amount under KRW 10 million | Pre-settlement: 80% of the final payment amount, less fees and other costs Final settlement (post-settlement): the final settlement amount after deducting refunds and other costs |
Pre-settlement: 60% of the final payment amount, less fees and other costs Final settlement (post-settlement): the final settlement amount after deducting refunds and other costs This project type applies a Pre-Settlement Service fee of 3% (VAT excluded) on the final settlement amount |
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| Settlement method – Final payment amount of KRW 10 million or more | Pre-settlement: 60% of the final payment amount, less fees and other costs Final settlement (post-settlement): the final settlement amount after deducting refunds and other costs |
Same as above — the 60% pre-settlement rate and 3% Pre-Settlement Service fee apply regardless of the final payment amount | ||
02. Settlement is processed through Stripe or PingPong Payments
Which PG provider handles your payout — and how the exchange rate and withdrawal fees work — depends on whether you're settled through PingPong Payments or Stripe.
| PG Provider | Category | Details |
|---|---|---|
| PINGPONG | Exchange rate applied | USD, based on the remittance date |
| Deposit account | Settlement funds are deposited to the PingPong Payments ID and account entered at project submission. Be sure to register your PingPong Payments account within Maker Studio. ▶️ How to Sign Up for PingPong Payments |
|
| Withdrawal method | Funds paid out can be withdrawn in your preferred local currency through PingPong Payments. Withdrawal requests take an average of 1–2 business days for approval. Withdrawals are subject to PingPong Payments' country-specific withdrawal fees — e.g., China: 0.4% |
|
| STRIPE | Exchange rate applied | USD, based on the settlement statement issue date |
| Deposit | Settlement funds are deposited to the account entered at project submission. Deposits take 1–2 business days from the payout date. Applies to overseas Makers outside China. |
03. Settlement Process
- The pre-settlement statement is sent within 5 business days after the project's end date.
- Settlement statements can also be checked under Maker Studio > Settlement History.
- Once the settlement statement is issued, the pre-settlement amount is deposited according to the "Settlement Schedule" below.
- Please process shipments under Maker Studio > Shipping & Refund Management so Wadiz can confirm the status of reward deliveries.
- Once all rewards have been delivered, final settlement begins.
- The final settlement statement is sent an average of 12–16 business days (20–24 days for Korea) after the delivery completion date.
- The settlement statement is issued within 1 business day after the 15-day refund period (25 days for Korea) following the delivery completion date ends.
- Settlement statements can also be checked under Maker Studio > Settlement History.
- Once the settlement statement is issued, the final settlement amount is deposited according to the "Settlement Schedule" below.
- The final settlement amount is settled in US dollars (USD).
04. Settlement Schedule
Wadiz processes settlements weekly for Makers holding a business registration outside Korea.
The schedule below is based on Korea Standard Time. If Wednesday falls on a public holiday, settlement is paid out on the next business day.
- Eligible projects: projects whose settlement statement was issued between Monday and Friday
- Payout date: the Wednesday of the following week after the statement is sent
Settlement Schedule Example
Example 1: Order or shipment within Korea (both origin and destination in Korea)
- 2026.05.04 (Mon): Project ends
- 2026.05.11 (Mon): Pre-settlement statement sent
- 2026.05.20 (Wed): Pre-settlement amount paid
- 2026.06.01 (Mon): Reward delivery completed
- 2026.06.26 (Fri): Refund period ends
- 2026.06.29 (Mon): Final settlement statement sent
- 2026.07.08 (Wed): Final settlement amount paid
Example 2: Order or shipment involving a country outside Korea (origin or destination outside Korea)
- 2026.05.04 (Mon): Project ends
- 2026.05.11 (Mon): Pre-settlement statement sent
- 2026.05.20 (Wed): Pre-settlement amount paid
- 2026.06.01 (Mon): Reward delivery completed
- 2026.06.16 (Tue): Refund period ends
- 2026.06.17 (Wed): Final settlement statement sent
- 2026.07.24 (Wed): Final settlement amount paid
📢 For projects submitted on or after June 1, 2026, the Pre-Settlement Service policy applies equally to both Korean Makers and Makers based outside Korea.
Makers whose business is registered outside Korea can apply for the same Pre-Settlement Service for Pre-order Special Bundle / Limited Edition projects.
- Korean Makers: complete and submit the Pre-Settlement Service Application Form.
- Makers outside Korea: complete and submit the Pre-Settlement Service Application Form.
- When applying, you must attach a business registration certificate that exactly matches the business information registered in Maker Studio.
FAQ (Frequently Asked Questions)
Q. Does having a refund reduce the settlement amount I receive?
A. Yes — it's reduced by the refunded amount. Refunds are deducted at final settlement, so you receive the full pre-settlement amount upfront, and the refunded portion is only excluded when final settlement happens. To minimize refunds, write accurate and detailed product descriptions, carefully check product condition before shipping, and clearly communicate the shipping schedule to your supporters.
Q. When and how much should I recognize as revenue?
A. Once all shipping and refunds are complete, recognize "total completed payment amount minus refunded completed payment amount" as revenue.
To summarize:- Revenue recognition timing: the point when both reward delivery and refunds are fully complete
- Amount to recognize as revenue: Total completed payment amount − Refunded completed payment amount
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