Yanolja Provides Points Worth 5 Billion Won to Customers Affected by the 'TMEF Incident'

Accommodation and Leisure Product Purchases by Over 80,000 People
Full Coverage of 30 Billion KRW Unsettled Payments at Partner Stores

Yanolja announced on the 26th that it will support Yanolja points worth 5 billion KRW for customers affected by the unsettled payment issues of TMON and WEMAKEPRICE. The company also committed to taking full responsibility for the settlements with its partner stores.

According to Yanolja's protection plan for victims of TMON and WEMAKEPRICE announced on the same day, approximately 80,000 customers who booked or paid for Yanolja accommodations and leisure products on these platforms and faced difficulties using them will be fully compensated with Yanolja points equivalent to their reservation amounts. Detailed information regarding the point issuance will be provided individually.

Additionally, for products purchased and used through TMON and WEMAKEPRICE, Yanolja plans to bear the full amount and settle payments properly. Including unsettled payments from before and usage through this weekend, Yanolja's expected burden is approximately 30 billion KRW.

Baebo-chan Yanolja Platform Division CEO stated, "This measure is to prevent the expansion of damages to customers and partner stores due to the TMON and WEMAKEPRICE incident and to avoid contraction of the travel industry. We will fulfill our social responsibility by supporting the recovery of damages for customers and partners and by facilitating the prompt normalization of the travel industry."

Meanwhile, on the same day in the morning, Yanolja also released a statement to alleviate concerns from customers and partner stores by disclosing the company's unsettled payment status and financial soundness. According to the Q1 report this year, Yanolja's cash and cash equivalents and short-term financial instruments amount to approximately 740 billion KRW (consolidated basis). The total equity stands at around 1.4 trillion KRW, which the company explained is at least 13 to 32 times larger compared to other major domestic travel companies.

A Yanolja representative said, "The unsettled payments of TMON and WEMAKEPRICE will not affect the company's capital liquidity." Previously, Yanolja's subsidiary Interpark Triple transferred its stake in Interpark Commerce (shopping and book division) to Qoo10, a Singapore-based e-commerce platform affiliated with TMON and WEMAKEPRICE, in April last year, but has yet to receive approximately 168 billion KRW from the sale proceeds.