Consumer Agency Initiates Collective Mediation on Timf Gift Certificates and Happymoney

A total of 13,537 applications received

The Consumer Dispute Mediation Committee of the Korea Consumer Agency announced on the 11th that it will initiate mediation procedures for two collective dispute mediation applications concerning gift certificates sold through online shopping malls operated by TMON and WEMAKEPRICE, as well as Happy Money gift certificates issued by Happy Money INC.

Last August, the Consumer Agency processed a collective dispute mediation application related to the restricted use of gift certificates sold on TMON and WEMAKEPRICE and Happy Money gift certificates, with a total of 13,537 applicants.

The committee judged that the number of consumers who purchased gift certificates sold through TMON and WEMAKEPRICE and Happy Money gift certificates but were unable to use them, suffering damages, each exceeded 50, and that the key issues of the cases were essentially the same in fact or law, meeting the requirements to initiate collective dispute mediation procedures.

The number of participants in the Happy Money case is 10,544, and the number of participants in the TMON gift certificate case is 2,993. Following the decision to commence collective mediation, the committee will announce the start of the procedure on the Consumer Agency’s website and in daily newspapers by the 7th of next month. According to the Consumer Basic Act, the committee plans to complete the mediation decision within a maximum of 90 days from the end of the announcement period.

Standing Commissioner Yeon Gyu-seok stated, "A large number of consumers who were unable to use their gift certificates have applied for collective dispute mediation," adding, "Considering the ongoing rehabilitation procedures of related businesses such as TMON, WEMAKEPRICE, and Happy Money, we will promptly prepare a reasonable mediation plan and strive to provide relief to consumers who suffered damages."