South Korean e-commerce retailer WeMakePrice says it is working to complete refunds for customers by Thursday as it continues to tackle payment delays brought on by liquidity shortages at its parent company, Qoo10. 

The company’s co-CEO Ryu Hwa-hyun made the announcement in a news conference in Seoul on Thursday, saying the company has so far completed 700 cases of refunds. 

Ryu said the firm, which is a subsidiary company of the Singapore-based e-commerce platform Qoo10, will first focus on paying back its customers then tackle the problem of making payments to small business owners who sell products on WeMakePrice. 

He went on to say that his company, Qoo10 Group and another subsidiary of the group, TMON, are working together on ways to raise funds for refunds and to pay sellers, adding that Qoo10 Group CEO Ku Young-bae is currently in South Korea. 

Ryu said that as of last week, WeMakePrice’s late settlement fees amounted to 40 billion won, or some 29 million U.S. dollars. Still, he said the company and TMON have yet to ascertain  the total amount of damages involved in the delay issue.