Korea Joongang Daily
Korea JoongAng Daily

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.

2024-09-30

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.

2024-09-23

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.

2024-09-19

TMON vies for M&A with aim to return to business in October

TMON CEO Ryu Gwang-jin said that the troubled e-commerce platform will resume normal operations next month as the company pushes for a merger.

2024-09-12

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.

2024-09-10

Merchants, customers affected by TMON, WeMakePrice protest against gov't

Merchants and customers affected by TMON and WeMakePrice's liquidity crisis stage a protest holding black umbrellas carrying signs that say "Korea's e-commerce has died" in Yeouido, western Seoul, on Sunday.

2024-09-08

Burger King to replace vouchers affected by TMON cash crunch

The fast food chain announced that it will reissue vouchers that have been unusable since TMON said it was unable to pay its sellers due to a liquidity crisis.

2024-08-26

[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.

2024-08-23

Exclusive: Qoo10 cash crisis costs Chinese sellers an estimated $18.8M

Chinese sellers on Qoo10-affiliated platforms are left to fend for themselves, with owed payments estimated to reach $18.8 million and no support from Korea.

2024-08-22

TMON undergoing due diligence amid push to attact new investors

The Qoo10-owned platform a undergoing a financial review as part of a court-approved restructuring plan to find a investors.

2024-08-20