Starting in July this year, the two Korean e-commerce platforms, Tmon and Wemakeprice, went through a liquidity crisis where they failed to settle payments with sellers and refunds to consumers. Being unable to receive the goods or services purchased, the consumers lost trust in the platforms, exacerbating the issue. Under these circumstances, consumer complaints reported to the Korea Consumer Agency regarding domestic e-commerce platforms such as Coupang, Baedal Minjok, and Interpark indicated that the crisis was predicted. Specifically, compensation claims increased from 1,380 cases in 2020 to 1,808 cases in 2023. Surprisingly, 1,279 cases were reported in only the first half of 2024. The most common types of claims were quality, revocations, and infringements. This situation was also observed in international e-commerce platforms. The compensation claims of global platforms such as AliExpress, Temu, and Shein also showed an upward trend, accelerating with the growth of the e-commerce market. The claims that predominated regarding these foreign platforms consisted of delays and refusals of refund or exchange, delivery issues, product and quality defects, and infringements. As government efforts to solve the Tmon and Wemakeprice situation are ongoing, experts state that formulating prevention laws should be prioritized.
