Court ends rehabilitation proceedings for TMON
Published: 22 Aug. 2025, 13:27
Updated: 22 Aug. 2025, 14:37
![A person walks in front of e-commerce platform TMON's headquarters in southern Seoul on June 23. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/08/22/3a47c7fd-72d9-46b5-a3b9-7be76e475188.jpg)
A person walks in front of e-commerce platform TMON's headquarters in southern Seoul on June 23. [YONHAP]
A Seoul court on Friday ended rehabilitation proceedings for the e-commerce platform TMON, about one year after the company filed for court receivership, which is similar to Chapter 11 in the United States.
Last September, TMON entered the proceedings two months after it struggled with widespread delays in payments to vendors using its platform.
The Seoul Bankruptcy Court said it would end the proceedings and that the company has paid off all of its rehabilitation-secured rights and 96.5 percent of its rehabilitation claims.
Since entering rehabilitation proceedings, TMON has pushed for a swift acquisition to pay off its liabilities.
In June, grocery delivery platform Oasis acquired TMON after a court approved its rehabilitation plan.
Yonhap
with the Korea JoongAng Daily
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