Korea's first luxury platform hit full capital erosion and was sold to an investor

Rebonz was Korea's first-generation luxury platform: founded in 2009, it ran new-goods sales, resale and, from 2017, the Rentit rental service that pioneered the Korean luxury rental market — 1.6 million members and a reported 70% repurchase rate by late 2023.

But the brokerage wars consumed it. According to audit reports cited in April 2025, Rebonz had entered full capital erosion — total equity wiped out — by the end of 2024, in the same downturn that sent rival Balan into court receivership and Brandy's operator into restructuring.

In December 2025 Yooil Technology Investment completed an acquisition of Rebonz. The deal came with a capital clean-up: VC preferred shares converted into common stock and high-interest borrowings repaid in one stroke. Co-founder Ha Dong-gu said the old loss-leading brokerage model had hit its limit; a follow-on investment in May 2026 was meant to fund the pivot toward rental and a wider luxury ecosystem.