Tag: Qoo10

Qoo10

Latest News

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 Ku Young-bae, cental, attends a hearing at the Seoul Central District Court on Thrusday as the court is to decide whether to issue an arrest warrant for him over a large-scale insolvency incident involving vendors on his e-commerce platforms. [YONHAP]

Seoul court denies arrest warrant for Qoo10 CEO

A Seoul court denied an arrest warrant for Qoo10 CEO Ku Young-bae amid fraud allegations linked to his e-commerce group's significant payment delays to vendors.

2024.10.11

Most popular

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

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

TMON CEO Ryu Gwang-jin, right, talks to reporters in front of the Seoul Bankrupty Court in southern Seoul on Tuesday after the court gave Qoo-10 owned e-commerce platforms TMON and WeMakePrice the green light to proceed with corporate rehabilitation. [YONHAP]

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.

2024.9.12

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

Merchants and customers affected by TMON and WeMakePrice's liquidity crisis stage a protest in front of TMON's headquarters in Gangnam District, southern Seoul, on Aug. 13. [NEWS1]

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.

2024.8.21

Global logistics company Qxpress is a subsidiary of the Singapore-based Qoo10. [QXPRESS]

Qxpress will leave ailing Qoo10, seek new owner

Qoo10's shipping subsidiary Qxpress plans to find a new owner to minimize spillover damages from the group's liquidity crisis. Financial institutions will convert bonds into shares and aim to normalize operations before finding a new investor.

2024.8.20

A pedestrian walks past a directory board at the Seoul Bankruptcy Court in southern Seoul on May 17. [YONHAP]

Qoo10-owned Interpark Commerce files for restructuring program

Interpark Commerce, another online marketplace owned by cash-strapped Qoo10, filed for a restructuring program with the Seoul Bankruptcy Court on Friday.

2024.8.18

Merchants affected by delayed payments from TMON and WeMakePrice hold up signs with text demanding relief measures at the inaugural ceremony of the emergency committee created for the sellers' damage relief on Aug. 6. [YONHAP]

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.

2024.8.12