Online shopping platform TMON, which issued on-site refunds to customers on Friday amid payment delays due to a liquidity shortage, suspended the payouts after only about a third of the pledged three billion won, or around two-point-two million U.S. dollars.

Kwon Do-wan, head of TMON's operation unit, said early Saturday that he had been notified of the suspension by the company's finance department and that around one billion won have so far been reimbursed.

Late Friday, TMON and another platform WeMakePrice, both subsidiaries of the Singapore-based e-commerce platform Qoo10, posted on their websites urging customers seeking a refund to request their respective credit card companies for payment cancellation.

While TMON and WeMakePrice are estimated to have around 60 billion won as their ability to mobilize cash, both money they owe to customers and sellers are reportedly snowballing.

Amid concerns over a chain bankruptcy among over 60-thousand sellers linked to the platforms, the government is considering payouts from an emergency management stability fund to assist small businesses affected by the latest crisis.