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WeMakePrice faces liquidation as court ends rehabilitation proceedings

Published: 09 Sep. 2025, 17:48 Updated: 09 Sep. 2025, 18:12

Victims of the TMON and WeMakePrice case hold a black umbrella rally in front of TMON’s headquarters in southern Seoul on Aug. 13, 2024. [NEWS1]

E-commerce platform operator WeMakePrice was poised to face liquidation as a Seoul court decided to terminate the company's rehabilitation proceedings.

Last September, WeMakePrice, along with sister company TMON, entered court-led rehabilitation proceedings after struggling to make payments to vendors due to liquidity issues.

The Seoul Bankruptcy Court said it would terminate the proceedings for WeMakePrice because it had failed to submit a rehabilitation plan by last Thursday's deadline. The decision will be confirmed if an appeal is not made within 14 days.

If rehabilitation proceedings are terminated due to a company's inability to carry out a rehabilitation plan, insolvency is effectively the only option left.

WeMakePrice has sought a swift acquisition to pay off its liabilities but struggled to find a buyer.

Meanwhile, TMON was acquired by grocery delivery platform Oasis in June after the court approved its rehabilitation plan.

Yonhap