Tag: wemakeprice

wemakeprice

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WeMakePrice declared bankrupt by Seoul court

WeMakePrice, an online shopping platform that had been undergoing corporate rehabilitation due to large-scale unpaid settlements and unprocessed refunds, was declared bankrupt on Monday.

2025.11.10

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]

WeMakePrice faces liquidation as court ends rehabilitation proceedings

WeMakePrice is facing liquidation after a Seoul court ended its rehabilitation proceedings due to failure to submit a plan, though its sister company TMON was successfully acquired.

2025.9.9

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Sellers and customers affected by TMON's liquidity crisis hold a protest demanding refunds and payments in front of the e-commerce platform's headquarters in Gangnam District, southern Seoul, on Aug. 13, 2024. [YONHAP]

Regulator orders TMON, WeMakePrice to rectify handling of refund requests

The FTC has ordered TMON and WeMakePrice to rectify refund failures amid a liquidity crisis, affecting thousands of vendors and customers with significant unpaid amounts.

2025.5.7

Bae Sam-hee of the Korea Consumer Agency's (KCA) Consumer Dispute Settlement Commission delivers a briefing on the results of the committee's mediation related to the payout crisis at TMON and WeMakePrice in Songpa District, southern Seoul, on the morning of Dec. 19. [YONHAP]

TMON, WeMakePrice must refund customers, KCA rules

The Korea Consumer Agency ruled that TMON and WeMakePrice must refund more than 8,000 customers nearly 13.5 billion won ($9.3 million) for denied compensation.

2024.12.19

From left, Qoo10 CEO and founder Ku Young-bae, TMON CEO Ryu Gwang-jin and WeMakePrice co-CEO Ryu Hwa-hyeon [NEWS1]

Qoo10, TMON, WeMakePrice CEOs indicted for fraud

Three e-commerce CEOs were indicted for embezzlement and fraud as their companies face a payout crisis, owing $1.3 billion to vendors. They allegedly misled sellers about their dire financial situation.

2024.12.11

Qoo10 CEO and founder Ku Young-bae attends a parliamentary hearing at the National Assembly in western Seoul on July 30. [NEWS1]

Prosecutors grill Qoo10 CEO over involvement in TMON, WeMakePrice payout crisis

Prosecutors summoned Qoo10 CEO and founder Ku Young-bae on Monday to question him over his involvement in the e-commerce platform’s subsidiaries' management, which has led to a seller-payout crisis.

2024.9.30

Protestors hold signs condemning the excessive regulation of the e-commerce industry during a public hearing regarding the payment crisis at TMON and WeMakePrice at the Korea Press Center in Jung District, central Seoul, on Monday. [YONHAP]

Public weighs in on TMON, WeMakePrice crisis at FTC public hearing

A public hearing in Seoul addressed the payment crisis at TMON and WeMakePrice, with participants discussing proposed regulations to better protect vendor funds.

2024.9.23

TMON CEO Ryu Gwang-jin answers questions from the press in front of the Seoul Central District Prosecutors' Office in Seocho District, southern Seoul, ahead of questioning on Thursday. [NEWS1]

Prosecutors question WeMakePrice, TMON chiefs over payment failures

WeMakePrice CEO Ryu Hwa-hyeon and TMON CEO Ryu Gwang-jin were summoned by prosecutors for their first questioning on Thursday over their involvement in the e-commerce platforms’ failure to pay their listed sellers.

2024.9.19

Merchants affected by delayed payments from TMON and WeMakePrice protest in front of the ruling party People Power Party's office in Yeouido, western Seoul. [YONHAP]

TMON and WeMakePrice to enter rehabilitation proceedings after failing to raise funds

A Seoul court has approved corporate rehabilitation for e-commerce platforms TMON and WeMakePrice.

2024.9.10

18일 오후 서울 종로구 금융위원회 앞에서 열린 '검은 우산 집회'에서 큐텐 구영배 대표, 티몬 류광진 대표, 위메프 류화현 대표 사진이 퍼포먼스를 위해 준비된 박에 붙어 있다. 사진 연합뉴스

[단독] 유통 대란 큐텐, 중국 거래처 미지급 대금도 240억원 규모

유통업계에서 이커머스 대란을 일으킨 큐텐이 중국 유통업자에게 정산하지 않은 대금도 최소 1800만 달러(약 240억원)에 달하는 것으로 21일 확인됐다. 큐텐 정산 지연 사태가 한국 뿐 아니라 해외 각지에서 손해를 미치고 있는 것이다.

2024.8.22