The CEOs of TMON and WeMakePrice appeared for a closed-door court hearing at the Seoul Bankruptcy Court to decide whether to initiate a rehabilitation plan and approve the autonomous restructuring support(ARS) program.

At the court hearing on Friday, TMON CEO Ryu Gwang-jin apologized for the incident, vowing to work hard to restore the damage that had been done.

The two CEOs will be questioned about the ARS program that they applied for, as well as the rehabilitation plan.

If the ARS program is accepted, the two companies and their creditors will have the opportunity to negotiate a payment plan with the support of the court to minimize the damage.

If the ARS program is declined and the application for rehabilitation is rejected, the two e-commerce companies will have no choice but to go through bankruptcy proceedings.