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Interpark Commerce declared bankrupt by court

Published: 16 Dec. 2025, 19:43

The Interpark building [YONHAP]

The Seoul Bankruptcy Court on Tuesday declared Interpark Commerce, an online retail subsidiary of e-commerce company Qoo10, bankrupt after financial problems arose from Qoo10's other subsidiaries' unpaid seller fees.

The decision comes 16 months after Interpark Commerce applied for receivership. Creditors may file claims with the court through Feb. 20, 2026.

The court will hold a creditors' meeting and conduct a claims review on March 17, 2026. On this date, creditors will vote on whether to discontinue business operations, and the court will identify creditors and verify the amounts they seek.

Interpark Commerce began facing liquidity problems in July last year after fellow Qoo10 subsidiaries TMON and WeMakePrice failed to settle sales proceeds totaling approximately 1 trillion won ($680 million).

In response, Interpark Commerce applied for rehabilitation proceedings under the autonomous restructuring support program in August of last year.

The court approved the start of rehabilitation proceedings on Nov. 29, 2024, but failed to secure potential buyers. On Dec. 1 of this year, the court decided to terminate the process.

“The debtor’s liquidation value clearly exceeds the value needed to continue operations,” the court said at the time. “The company failed to submit a rehabilitation plan by the court-set deadline of Nov 13.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY JUNG SI-NAE [[email protected]]