Daeryun Law Firm Forms Task Force for Timef Incident... Begins Compensation Process

Experts Such as Lawyers, Accountants, Tax Accountants, and Labor Attorneys

Platform Small Business Owners and Individuals Consider Class Action Lawsuit

As damages continue to mount due to the unsettled payment crisis at Qoo10-affiliated e-commerce platforms such as Tmon and Wemakeprice, law firm Daeryun has formed a Tmon-Wemakeprice Response Task Force (TF) to provide relief for those affected.

The TF includes lawyers with backgrounds in large corporations, as well as specialists in areas such as corporate rehabilitation and bankruptcy. In particular, the TF plans to enhance its expertise by involving not only lawyers but also professionals such as accountants, tax accountants, and labor consultants.

The core of the TF is led by corporate legal group head Won Hyungil, an expert in corporate legal advisory services who previously served as Executive Director and Head of Legal at POSCO Holdings (formerly POSCO), and as Senior Executive Vice President and Head of Legal at POSCO Future M (formerly POSCO Chemical).

According to Daeryun, the team also includes lawyer Shin Jongsu, who specializes in corporate legal and tax matters; lawyer Kim Gwangdeok, who has over 15 years of experience at mid- to large-sized law firms and is proficient in labor and fair trade corporate legal issues; lawyer Kim Wonsang, head of the Corporate Rehabilitation and Bankruptcy Center; lawyer Na Changsu, who handled corporate crimes as a chief prosecutor at the Seoul Central and Seoul Western District Prosecutors’ Offices; labor law specialist lawyer Bang Intae; international transaction specialist lawyer Ji Minhui; and HR and labor expert lawyer Jeong Sanghyeok. They plan to support corporations facing mass bankruptcy due to the Tmon-Wemakeprice crisis.

According to the distribution industry, a significant portion of the 60,000 businesses listed on Qoo10 Group’s e-commerce platforms, including Tmon and Wemakeprice, are small business owners. Most are in poor financial condition, and if settlements are not made, the situation is so dire that they may have to suspend operations.

As the timing of settlement payments for Tmon and Wemakeprice sales remains uncertain, concerns are growing that the financial difficulties of small and medium-sized sellers will continue to worsen. Sellers facing the risk of company bankruptcy are reportedly considering corporate rehabilitation.

Daeryun explained that the Tmon-Wemakeprice TF plans to provide one-stop legal services by connecting with specialists in various fields. By deploying experts such as accountants, the team aims to take prompt follow-up measures for sellers and consumers affected by the unsettled payment crisis at Tmon and Wemakeprice.

Won Hyungil, head of the corporate legal group leading the TF, stated, “The current Tmon-Wemakeprice situation is rapidly deteriorating, and the damages are so severe that it is impossible to estimate the total amount. Through the formation of this TF, we will spare no effort to support victims in pursuing class action lawsuits.”