Cumulative loss of Qoo10 affiliates amounts to 2.58 trillion won

With growing delays in settling customer purchases at e-commerce platforms TMON and WeMakePrice, the cumulative loss of four Qoo10 Group affiliates is estimated to be 2.6 trillion won. With TMON and WeMakePrice mired in capital erosion, their parent company, Qoo10, and other affiliates may suffer from cash flow difficulties. This is fueling concerns that consumer refunds and seller settlements may not be completed over time.

In the Dong-A Ilbo’s Sunday analysis of the Singapore Business Administration and the Financial Supervisory Service's electronic disclosures, the cumulative losses of the four major affiliates of the Singapore e-commerce company Qoo10 Group, including Timon, WeMakePrice, Qoo10, and QExpress, were calculated at 2.58 trillion won. This is the sum of all accumulated losses in the company's latest disclosures.

Qoo10 Group is reportedly considering utilizing cash from affiliates and transfusing external funds to secure liquidity, which is reportedly unfeasible. Qoo10 Group CEO Koo Young-bae replied by text message to The Dong-A Ilbo’s question on how it plans to secure liquidity by saying, “We are still looking for funds and solutions.”


김은지 eunji@donga.com