Home > Business > Industry

WeMakePrice declared bankrupt by Seoul court

Published: 10 Nov. 2025, 18:13 Updated: 10 Nov. 2025, 18:14

A WeMakePrice logo seen at its company headquarters in Gangnam, southern Seoul, on July 30, 2024. A local court declared it bankrupt on Nov. 10. [NEWS1]

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.

The Seoul Bankruptcy Court finalized the termination of WeMakePrice’s rehabilitation proceedings and declared bankruptcy one year and four months after the company first filed for court receivership in late July last year.

Attorney Lim Dae-seop was appointed as the bankruptcy trustee. Creditors have until Jan. 6 next year to file claims. A meeting of creditors and a hearing for claim review will take place on Jan. 27 at the Seoul Bankruptcy Court.

WeMakePrice had attempted a pre-approval merger and acquisition after entering court receivership in July 2024, but was unable to find a buyer. The court initially decided to terminate the company’s rehabilitation process on Sept. 9. The bankruptcy declaration followed two months later.

“The value of liquidating the debtor’s business clearly exceeds the value of continuing it,” the court said in its ruling. “As no rehabilitation plan was submitted by the court’s deadline of Sept. 4, 2025, we are terminating the rehabilitation procedure under Article 286, Paragraph 2 of the Debtor Rehabilitation and Bankruptcy Act.”

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 JANG GU-SEUL [[email protected]]