Tmon Implements Organizational Restructuring and Establishes Independent Management System

Establishment of Representative Work Command System
Internalization of Finance, Payment, and Legal Affairs

Tmon announced on the 23rd that it has implemented a high-intensity organizational restructuring aimed at establishing an ‘independent management system’ and strengthening the ‘curation capabilities,’ which are core values of its mobile commerce platform. Once normalized, the company plans to support the growth and market development of small and medium-sized merchants and serve as a platform for mutual growth.

First, Tmon decided to establish a command system under the CEO and set up an independent management system. The intention is to actively promote sustainable growth of the platform and improve its profit structure. Notably, it has established a finance and fund organization to strengthen fund management and financial soundness. Additionally, it has established a command system for operations with a payment organization supporting customer purchases and a legal organization for compliance management, thereby enhancing management transparency.

Ryu Kwang-jin, CEO of TMON, is attending a hearing on the 2nd at the Seoul Rehabilitation Court in Seocho-gu, Seoul, and is stating his position. The court plans to review the reasons for the rehabilitation applications of TMON and WEMAKEPRICE, their debt status, and funding plans. Photo by Jo Yong-jun jun21@

Furthermore, Tmon created a new ‘Product Headquarters’ covering all shopping categories, reorganized the sales organization, and decided to maximize its ‘curation capabilities.’ CEO Ryu Kwang-jin will directly lead the Product Headquarters to help the growth of small and medium-sized merchants and accelerate platform normalization. Going forward, Tmon plans to develop a personalized recommendation service that selects products considering customer characteristics and consumption tendencies.

The company stated that this organizational restructuring lays the foundation for an independent management system and enhances the commerce platform’s capabilities to achieve mutual growth with small and medium-sized merchants. In particular, it plans to swiftly introduce a new escrow-based settlement system and focus on service normalization. Tmon expects that with the introduction of the new settlement system, fund stability will improve, and payment settlements will be possible within three days after product shipment.

CEO Ryu said, “I sincerely apologize for the damage and concerns caused to sellers and customers, and we are making every effort by pursuing various measures such as attracting investment and capital expansion for normalization,” adding, “This organizational restructuring is the beginning of that effort. We will strive to rationally reform the organization and personnel to establish management transparency, restore internal and external trust, and lay the foundation for long-term growth.”