Choi Sang-mok “Introduction of e-commerce settlement deadline and establishment of separate management obligation for sales proceeds”

2024-08-07 01:37:53

People Power Party leader Han Dong-hoon speaks at the party-government council meeting on the WeMakePrice and Tmon incident held at the National Assembly in Yeouido, Seoul on the morning of the 6th. From the left, floor leader Choo Kyung-ho, Han, and Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok. 2024.8.6/News 1

On the 6th, Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok announced regarding the delay in settlement of sales proceeds from e-commerce companies Timon and WeMakePrice, “We will introduce a settlement deadline for e-commerce and establish separate management obligations for sales proceeds.”

Deputy Prime Minister Choi said this during a ruling party-government consultation held at the National Assembly this morning regarding the WeMakePrice-Tmon incident, saying, “We will pursue fundamental institutional improvements to prevent damage like this incident from happening again.”

Vice Prime Minister Choi also emphasized, “We will strengthen the registration requirements and management guidance standards for PG companies and establish a legal basis for sanctions when they are not met,” and “In order to prevent gift certificate problems like this incident from occurring, we will also manage prepaid charging amounts 100% separately.”

Vice Prime Minister Choi said that the scale of the damage could expand further, with the scale of unsettled sales proceeds due to the Timep incident reaching 278.3 billion won (as of August 1), and explained that the damage is also taking various forms, including non-receipt of goods, cancellation of travel product contracts, and suspension of use of gift certificates by affiliated stores.

The government has come up with a 560 billion won plus alpha support plan as the first measure to deal with the T-MEP situation, and plans to come up with additional measures soon.

Deputy Prime Minister Choi said, “We will swiftly support consumer rights relief,” and “We will swiftly process refunds for general products and actively cooperate with relevant organizations for travel products and gift certificates.” He also said that he would consider providing additional liquidity if necessary to resolve management difficulties for affected companies.

(Seoul = News 1)

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2024-08-07 01:37:53