Concerns Over a "Second Timef" Incident: Balran Unsettled Payments, Daeryun Legal Support TF Activated

Formation of a 10-Member Task Force of Corporate Legal Experts
"We Will Provide Practical Legal Assistance"

(Clockwise from the top left) Attorneys Son Gye-jun, Shin Jong-su, Bang In-tae, Kim Won-sang, Ji Min-hee, Kim Seo-young, Nam Young-jae, Jeong Sang-hyeok of Daeryun Law Firm, Accountant Park Won-chan, Labor Attorney Nam Seo-hye.

On the 2nd, the law firm Daeryun formed a legal support task force (TF) to assist victims in relation to the 'unsettled payment' issue of the online luxury goods trading platform 'Balan,' which has filed for corporate rehabilitation proceedings. Through the TF, Daeryun plans to carry out multifaceted legal responses including relief for consumers and sellers, review of criminal liability, and class-action lawsuits.

The TF consists of more than 10 experts including lawyers, accountants, tax accountants, and IT legal specialists from Daeryun's Corporate Legal Group. Son Gye-jun, head of the Corporate Legal Group at Daeryun, stated, "The Balan incident is a case that demonstrates the structural risks that can occur in platforms based on consumer trust."

The TF also includes Shin Jong-su, an expert in corporate law and taxation who previously handled the 'T-mep incident.' Shin said, "It seems that multifaceted legal responses will be necessary again to restore the damages of consumers and other clients."

Additionally, the TF includes: Bang In-tae, a labor law specialist registered with the Korean Bar Association and an expert in corporate litigation; Kim Won-sang, a corporate rehabilitation and bankruptcy expert who participated in the Korea Pizza Hut lawsuit; Ji Min-hee, a former in-house counsel with extensive experience in fair trade and patents; Jeong Sang-hyuk, a human resources and labor expert who has served on numerous corporate review and investigation committees; Jo Hee-gon, who has rich experience in corporate litigation and advisory in areas such as Fair Trade Commission investigations; Kim Seo-young, a bankruptcy specialist registered with the Korean Bar Association who has handled numerous rehabilitation and bankruptcy cases; and Nam Young-jae, former head of legal affairs at a POSCO Group affiliate. They will provide legal assistance to consumers and sellers affected by the Balan incident.

Furthermore, Nam Seo-hye, a labor attorney who has provided labor law advice to many companies in IT, service, and distribution sectors, and Park Won-chan, an accountant with experience auditing many large corporations and public institutions, will review accounting and labor issues to provide comprehensive responses.

Daeryun plans to review the entire Balan incident through this TF, including not only the consumers' delayed refunds but also sellers' unsettled payments, refusal of credit card cancellations, and potential violations of terms and conditions. Depending on the spread of damages, they also plan to proceed with collective response procedures.

Son Gye-jun, head of Daeryun's Corporate Legal Group, said, "Following the T-mep incident, the Balan incident has occurred, highlighting major problems with the opaque settlement systems and fund management methods of e-commerce platforms. Through this TF, we will provide practical legal assistance to victims and also strive to develop institutional improvement measures for the platform industry as a whole based on the advice of Daeryun experts."

Last year, Daeryun led civil and criminal lawsuits on behalf of sellers who suffered unpaid settlements during the 'T-mep incident.' At that time, Daeryun actively responded by filing complaints against the Qoo10 Group management for fraud and breach of trust. Since the Balan incident involves similar structural problems, Daeryun believes proactive measures are necessary.