Burger King to replace vouchers affected by TMON cash crunch

Industry

Burger King to replace vouchers affected by TMON cash crunch

Published: 26 Aug. 2024, 17:19 Updated: 27 Aug. 2024, 11:44

CHO YONG-JUN
cho.yongjun1@joongang.co.kr

Burger King logo [BKR]

Burger King will directly compensate consumers affected by the ongoing TMON payment crisis by reissuing its mobile vouchers.

The fast food chain's mobile vouchers that were sold through the troubled e-commerce platform are among a range of gift cards that have been unusable since the company announced in late July that it was unable to pay sellers due to a liquidity crunch.

New vouchers, which will be sent to the affected customers on Tuesday, will be usable at 390 Burger King branches directly managed by BKR. BKR, wholly owned by private equity firm Affinity Equity Partners, is the chain's operator in Korea.

The new vouchers will have a new expiry date of Nov. 30 regardless of the original expiry dates, according to the company.

Discontinued gift tokens will be replaced with a new item based on the product’s original price. The company will not be offering any refunds for the reissued gift cards.

“We decided to support customers [with the gift token re-issue] in order to minimize the damage and anxiety caused to the customers affected by the [Qoo10] crisis,” CEO of BKR Lee Dong-hyeong said in a press release Monday.

BY CHO YONG-JUN [cho.yongjun1@joongang.co.kr]