South Korean e-commerce retailers TMON and Wemakeprice, subsidiaries of the Singapore-based e-commerce platform Qoo10, are continuously suffering payment delays. 

According to Qoo10 Group and sources within the industry on Wednesday, the group’s liquidity shortages are affecting some of the group’s subsidiaries. 

While TMON and Wemakeprice are suffering delays in payments and refunds, other affiliated companies, AK Mall and Interpark are operating normally. 

With the latest delay, sellers on TMON and Wemakeprice , including travel agencies, department stores and home shopping companies, are starting to suspend sales of their products on the platforms, one after another. 

From Tuesday, payment gateway services began blocking card payment cancellation for existing payments made on the two e-commerce retailers. 

As a result, customers who made such payments must wait until they can get their refunds in cash upon making a related request. 

Market observers estimate that damages from the delay in payments would amount to over 100 billion won, or around 72 million U.S. dollars.

Meanwhile, an official at the presidential office told reporters that the office is keeping tabs on the situation regarding the retailers to ensure that consumers are not adversely affected.