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 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

[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

Appliance marketplace Allets shutters as Qoo10 dominoes continue to fall

Allets, an online home appliance and furniture marketplace, announced that it will close operations by the end of August as the Qoo10 cash crisis persists.

2024-08-19

WeMakePrice, TMON CEOs discuss plans to rescue companies

WeMakePrice CEO Ryu Hwa-hyeon, left, and TMON CEO Ryu Gwang-jin answered questions from local press on Tuesday after concluding a meeting where they discussed rescue plans for the two cash-strapped e-commerce platforms.

2024-08-13

TMON, WeMakePrice submit restructuring plans amid Qoo10 CEO's merger push

TMON and WeMakePrice submitted their restructuring plans with the court amid Qoo10 CEO Ku Young-bae's proposal to merge, which was given an icy reception by the platforms' sellers.

2024-08-12

Support for Qoo10-platform merchants doubled to $871 million

Support for merchants caught up in Qoo10's cash crisis has more than doubled to 1.2 trillion won, which will primarily take the form of low-interest loans.

2024-08-07