South Korea to provide 560 billion won in liquidity support to small businesses facing payment delays from TMON and WeMakePrice e-commerce platforms.
South Korea will provide 560 billion won ($404.55m) in liquidity support to small businesses facing payment delays from e-commerce platforms. The finance ministry announced the commitment after an investigation into TMON and WeMakePrice, owned by Singapore-based Qoo10, which failed to pay vendors on time. Qoo10 pledged $50 million to address the issue, but no detailed mitigation plan has been provided.
July 29, 2024
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