[비즈한국] TMON is preparing to reopen its service. This comes about a year after it suspended operations due to the non-payment crisis that broke out in July last year. Recently acquired by Oasis, TMON is accelerating its normalization process. However, compensation for consumers who suffered damages during the TMON-WeMakePrice (TMEP) crisis remains largely unaddressed.
1 Year Since the TMEP Crisis, Victims Are Still 'Demanding Refunds'
TMON is preparing to resume business. Although it initially set a reopening date of August 11, the schedule was delayed due to the completion of the corporate rehabilitation process. TMON explained, "We made this decision based on the judgment that the final completion of the rehabilitation process is necessary to provide stable service," adding, "Currently, court approval is required for major decision-making processes until the rehabilitation process is fully concluded."
TMON temporarily suspended operations and entered corporate rehabilitation following the TMEP crisis in July 2024. In June of this year, the Seoul Rehabilitation Court decided to mandatorily approve TMON’s rehabilitation plan, and Oasis Market, a company specializing in early-morning delivery of fresh food, confirmed its acquisition of TMON. Since July, TMON has been preparing for the service resumption by continuously uploading teaser videos signaling a reopening.
However, victimized consumers looking at TMON’s normalization moves cannot hide their bitterness. One victim lamented, "I haven't received proper compensation for the losses I suffered during the TMEP crisis last year. Even now, I make calls demanding a refund every single day," adding, "Is it even logical for TMON to try to reopen as if nothing happened?"
Another consumer said, "A year has passed since the TMEP crisis last year, but nothing has changed. I am repeating the process of calling various places and sending supporting documents to get my losses refunded," adding, "I’ve contacted retailers, credit card companies, and PGs (Payment Gateways), but they are all busy passing the buck, claiming they don't have the 'authority to process refunds'."
The consumer expressed frustration, saying, "I recently submitted supporting documents to the Korea Consumer Agency and am waiting for an answer, but even if a refund is decided, it is not mandatory, so if the (credit card company) refuses to accept it, that’s the end of it. Is it right that TMON is embarking on normal business while only the victims are running around in circles to get refunds just like they were a year ago?"
Although a year has passed since the TMEP crisis, victim compensation has not been properly carried out. Early in the crisis, PGs, credit card companies, and simple payment providers processed refunds for about 30,000 cases (worth 4 billion won) of general goods that customers purchased from TMON and WeMakePrice but never received. However, for travel products, vouchers, and airline tickets, processing was repeatedly delayed because the responsibility for refunds was unclear.
After dragging out the issue of refunds for about a year, credit card companies and PGs now appear to be notifying customers of refund denials one after another. Person A, who suffered about 500,000 won in damages from the TMEP crisis, had been requesting a refund for a year but was notified of a "refund denial" late last month. They said, "My family of nine, including my children and my parents' family, purchased water park passes to go on a trip, but the TMEP crisis broke out a few days after payment, making the tickets unusable. At the time, the simple payment provider told us to file for TMON-related damages, so I did so quickly and waited for the results. It’s been a year spent doing that, and now they say they can't give a refund; I’m furious."
Early this year, the Korea Consumer Agency announced a collective dispute resolution plan for TMEP travel and lodging products, urging vendors and PGs to take joint responsibility with TMEP. Simple payment providers accepted this recommendation, raising expectations among consumers that full refunds would be possible.
However, as it turned out, some simple payment providers established their own criteria and only provided refunds to victims who met those standards. They did not disclose the internal criteria or the number of victims who received refunds.
An official from the simple payment industry said, "PGs do not have a legal obligation to provide refunds. We decided to process them to protect our users proactively," adding, "We provided refunds to some customers who met our internal criteria. Since there were so many requests, it took a long time, and I understand it is almost finished now."
Victims Receive 0.75% Repayment, Considering Lawsuits Late
TMON began the process of repaying rehabilitation claims on July 11 of this year. TMON’s total debt scale is approximately 1.2 trillion won, and the repayment rate is a mere 0.75%. In other words, a consumer with 1 million won in damages gets only 7,500 won back. TMON stated that it has finished payments for over 90% of those eligible for repayment.
Consumers who received the repayment funds could not hide their despondency. One consumer said, "I suffered damages of about 1.5 million won, and the amount I received was 11,000 won. Is it really true that compensation ends with this amount?" Another victim added, "I am outraged by their attitude of pretending to have fulfilled their responsibilities after paying out such an absurd amount as a 'repayment'."
Victims are also pursuing class-action lawsuits. Consumers who were denied refunds for travel, lodging, and airline products are proceeding with class-action lawsuits against travel agencies and PGs with the help of the Korea Consumer Agency. Approximately 3,800 victims have joined the lawsuits.
However, it is expected to take a considerable amount of time to receive actual compensation through litigation. During the Merge Point crisis in 2021, it took more than three years from the time 7,200 victims filed a class-action lawsuit until the first-instance ruling was issued.
Recently, there has also been an increase in victims trying to file lawsuits late. One consumer stated, "Credit card companies kept telling us to 'wait' as if a refund would happen. I thought if I just trusted them and waited, it would be resolved," adding, "Now that I've received a 'refund denied' result, I feel devastated. I regret not starting the lawsuit sooner."