WeMakePrice

Qoo10’s CEO pledges personal assets worth $58M to compensate Korean merchants affected by its liquidity crisis

The founder and CEO of Singapore-based marketplace Qoo10 has pledged to use his personal assets to secure about $58 million (80 billion KRW) to compensate South Korean customers and vendors affected by his company’s liquidity crisis, which in turn resulted in failed payments to about 60,000 small merchants who sell through its Korean marketplace subsidiaries, […]

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Singaporean e-commerce firm Qoo10’s Korean units face probe due to payment delays to merchants

The e-commerce market in South Korea ranks as one of the largest in the world, but it’s also proving to be a precarious one. On Thursday, South Korea’s Fair Trade Commission announced that it had launched an investigation into two major South Korean e-commerce platforms owned by Qoo10—Ticketmonster (TMON) and WeMakePrice—for failing to pay out

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