Ryu Hwa-hyun, co-CEO of Wemakeprice, stated, "We will prepare sufficient consumer refund funds to ensure there is no damage."
According to the distribution industry on the 25th, around 1 a.m. that day, CEO Ryu Hwa-hyun came to the Wemakeprice office and said, "We will prepare sufficient consumer refund funds to ensure there is no damage," adding, "Qoo10 is securing the unsettled payments that need to be returned to sellers, combining Tmon and Wemakeprice." About 200 customers demanding refunds had been present since the previous evening.
As the delay in seller settlements by TMON and WEMAKEPRICE causes increasing harm to consumers, purchasing customers are visiting WEMAKEPRICE headquarters in Samseong-dong, Seoul on the 25th to submit refund requests. Photo by Heo Younghan younghan@
At this meeting, CEO Ryu explained, "The PG companies (payment gateway providers) agreed to allow card payment cancellations for travel products by this morning."
Regarding the 'seller settlement payments,' he said, "Until last week, Wemakeprice's delayed settlement amount was 40 billion KRW, but currently, the unsettled amount combining Tmon and Wemakeprice is about 100 billion KRW," adding, "The settlement funds are being secured by Qoo10."
He emphasized, "I sincerely apologize. We will compensate to prevent consumer damage and do our best to restore damages to small business owners and self-employed individuals," stressing, "We have the will to resolve this."
Wemakeprice is proceeding with the refund process for consumers. Currently, consumers are asked to write down their payment name, contact information, reservation number, product name, refund request quantity, account holder name, and account number on paper, after which refunds are being deposited sequentially.
Meanwhile, on the same day, some consumers also visited the Tmon office located in Sinsa-dong to protest, but Tmon has closed the building.
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