"Did Not Even Make Contact"... Ali Completely Denies Wemakeprice Acquisition Rumors

Ali "No Plans to Acquire Wemakeprice"

Qoo10 is reportedly considering selling its subsidiary WEMAKEPRICE to Chinese e-commerce companies such as AliExpress and Temu, but AliExpress has immediately denied the report. Qoo10-affiliated e-commerce platforms TMON and WEMAKEPRICE are undergoing corporate rehabilitation procedures due to financial difficulties caused by delayed settlements.

An AliExpress Korea representative stated on the 1st, "We officially confirm that there are no plans to acquire WEMAKEPRICE at this time, nor have we had any contact with the related companies."

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@

Earlier, a report emerged that Qoo10 planned to propose the sale of WEMAKEPRICE to Ali and Temu. Qoo10 is known to have proposed transferring part of WEMAKEPRICE’s shares to Ali or Temu for joint management, followed by transferring all shares.

Qoo10-affiliated TMON and WEMAKEPRICE declared an indefinite delay in settlements to sellers starting earlier this month, citing system errors, which caused a large-scale settlement delay crisis. As a result, sellers on the platforms were unable to properly deliver products to customers, causing harm to customers as well, and refund procedures were also delayed. Customers who purchased travel products from travel agencies on these platforms faced unilateral cancellations just before their trips.

Meanwhile, the Seoul Central District Prosecutors’ Office’s dedicated investigation team for TMON and WEMAKEPRICE conducted raids this morning at the residence of Koo Young-bae, CEO of Qoo10, located in Seocho-gu, Seoul, as well as at the offices of TMON and WEMAKEPRICE, sending prosecutors and investigators to seize evidence.