 |
Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Seoul, Korea – September 1, 2025 – E-commerce platform Tmon announced that it will indefinitely postpone its planned September 10 business resumption, citing unresolved disputes with sellers and consumers affected by past unpaid settlements, as well as difficulties finalizing agreements with partner credit card companies.
In a public notice titled “To Our Valued Partners,” Tmon stated:
"We prepared over one million products with more than 10,000 partner companies and completed all preparations for reopening. However, in the final stages, numerous complaints from affected sellers and consumers were filed through card issuers and government agencies, forcing us into the painful decision of delaying our reopening once again."
Tmon, which had been under court receivership, was recently acquired by fresh food retailer Oasis, raising hopes for swift normalization. The company emphasized that Oasis’s acquisition had accelerated preparations:
"Since Oasis was confirmed as our new owner, we worked tirelessly, even on weekends and overnight, to reopen. Many partners sincerely prepared products and services, and we pledged to reciprocate with the lowest commissions, prompt settlement, and renewed commitment as a homegrown e-commerce company."
Despite these efforts, industry sources reported that mounting complaints from victims disrupted Tmon’s partnership agreements with credit card companies, creating further obstacles to resumption.
Earlier this year, Oasis invested KRW 11.6 billion (approx. USD 8.5 million) to acquire Tmon. The platform introduced measures such as next-day settlement after purchase confirmation and industry-low fees in an effort to rebuild trust. However, with compensation to victims reportedly covering only 0.75% of total claims, opposition from sellers and consumers remains strong.
Tmon concluded its statement by apologizing to partners and pledging:
"While we cannot promise a reopening date at this time, we will resume operations as soon as conditions allow, and we will reach out to our partners first to move forward together."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
