SEOUL, Aug. 26 (Korea Bizwire) – Chinese e-commerce platform AliExpress announced on August 26 that it has implemented protective measures for more than 8,500 Korean brands from December of last year to July of this year, primarily through blocking counterfeit products. AliExpress has intensified efforts to protect and manage intellectual property rights to safeguard the interests [...]
SEOUL, Aug. 21 (Korea Bizwire) – The government said Wednesday it will provide 1.6 trillion won (US$1.2 billion) in financial support, including loans, to help vendors hit by delayed payments of e-commerce platforms TMON and WeMakePrice. The announcement came after the two firms, owned by Singapore-based Qoo10, filed for corporate rehabilitation last month after failing to [...]
SEOUL, Aug. 6 (Korea Bizwire) — Finance Minister Choi Sang-mok on Tuesday unveiled policy measures for e-commerce vendors, as such vendors were hit by the recent payment delays of Qoo10-owned platforms TMON and WeMakePrice. Under the measures, the government will shorten a term of payment by e-commerce platforms to vendors, Choi told a meeting with [...]
SEOUL, Aug. 2 (Korea Bizwire) – A court on Friday granted cash-strapped e-commerce platforms TMON and WeMakePrice one month to seek debt restructuring on their own, after they failed to make payments to their vendors. The decision by the Seoul Bankruptcy Court to allow an autonomous restructuring support program (ARS) for TMON and WeMakePrice came [...]
SEOUL, Aug. 1 (Korea Bizwire) – Direct purchases from overseas by South Korean customers surpassed the 2 trillion-won (US$1.46 billion) mark for the first time ever in the second quarter of 2024, data showed Thursday. The total value of online direct buying from overseas advanced 25.6 percent on-year to 2.15 trillion won in the April-June [...]
SEOUL, July 29 (Korea Bizwire) – TMON and WeMakePrice, e-commerce platforms of the Singapore-based Qoo10, filed for court receivership Monday, officials said, amid continuing liquidity woes due to the firms’ delays in repaying vendors operating on their platforms. The two South Korean marketplaces have been in crisis after failing to make payments to their vendors [...]
SEOUL, July 25 (Korea Bizwire) – Chinese e-commerce platform Temu has reported that essential household items topped the list of most purchased products in its first year of operations in South Korea, according to a survey released on July 25. The study, conducted by Korea Gallup Research Institute on behalf of Temu, polled 1,026 adults aged [...]
SEOUL, July 25 (Korea Bizwire) – The personal information watchdog fined AliExpress, a Chinese e-commerce retail platform, 1.9 billion won (US$1.37 million) on Thursday for leaking the personal information of South Korean customers to about 180,000 overseas sellers without informing them. The Personal Information Protection Commission approved the decision during its plenary meeting, marking the [...]
SEOUL, July 22 (Korea Bizwire) – The Chinese e-commerce giant Alibaba.com is set to broaden its support for South Korean companies looking to expand their international reach through direct sales channels. On July 22, Alibaba.com announced plans to officially launch the Korea Pavilion, a dedicated B2B website for Korean enterprises, on August 8. This new platform, [...]
SEOUL, July 1 (Korea Bizwire) – South Korea’s data protection watchdog is nearing the completion of its probe into the Chinese e-commerce firms AliExpress and Temu over consumer data protection and will likely take actions soon upon its results, its chief said Monday. The investigation into the two companies “has been completed,” Ko Hak-soo, the [...]