Prosecutors: "Decision on Reapplying for Warrants on Tmon and Wemakeprice After Supplementary Investigation"

"Significant Damage to Multiple Victims...Will Conduct Reinforced Investigation"

Koo Young-bae, CEO of Qoo10 Group (from the right), Ryu Kwang-jin, CEO of TMON, and Ryu Hwa-hyun, CEO of WEMAKEPRICE, are attending an emergency inquiry related to the 'TMON and WEMAKEPRICE Settlement and Refund Delay Incident' held at the National Assembly's Political Affairs Committee on the 30th. Photo by Kim Hyun-min kimhyun81@

The prosecution announced that it "will decide whether to reapply for arrest warrants after conducting supplementary investigations" regarding Koo Young-bae, CEO of Qoo10 Group, Ryu Hwa-hyun, CEO of TMON, and Ryu Kwang-jin, CEO of WEMAKEPRICE, all of whom failed to be detained.

The dedicated investigation team for the TMON and WEMAKEPRICE case at the Seoul Central District Prosecutors' Office (led by Lee Jun-dong, Head of the Anti-Corruption Division 1) stated on the 11th, "We will carefully review the reasons for the dismissal of the arrest warrants and, since this case involves significant damage to numerous victims, we plan to conduct supplementary investigations including listening to victim statements before deciding whether to reapply for the warrants."

Earlier, the prosecution formed a dedicated team in July and, after about two months of investigation, filed arrest warrants for CEO Koo and others on the 4th. However, the court dismissed all the arrest warrants requested by the prosecution for the three individuals the day before.

Shin Young-hee, the judge in charge of warrants at the Seoul Central District Court, stated the reason for dismissal regarding CEO Koo: "Considering the nature of the e-commerce platform business, the acquisition of TMON and WEMAKEPRICE and the progress of the Prime service launch, the movement of funds and cost-sharing within the corporate group, the acquisition of Wish, and the motivation and process of Qxpress's Nasdaq listing, there is room to dispute the criminal charges against the suspect, so the necessity to guarantee the right to defense exists." She also noted, "It is difficult to conclude that there is a risk of flight or evidence tampering."

Regarding CEOs Ryu Hwa-hyun and Ryu Kwang-jin, she stated, "Considering the possibility of disputing the establishment of the crime, the suspects' positions and roles within the corporate group, the investigation process, the evidence collected so far, the suspects' attitudes toward the investigation and interrogation, their age, career, residence, and family relations, it is difficult to recognize the grounds, necessity, and reasonableness for detention."