WeMakePrice
South Korean online deals and marketplace platform, now legally bankrupt with no operating business.
On the record
Checkpoint: Verdict expected in criminal fraud trial of Qoo10 CEO Ku Young-bae and nine other executives
The call
WeMakePrice is a closed case: a bankrupt shell whose brand sold for pocket change after a parent-company cash crisis wiped it out, with no product, users, or buyer in sight.
WeMakePrice was a South Korean online shopping platform that collapsed in November 2025 due to its parent company Qoo10 draining cash through bad debt and mismanagement, not because rivals like Coupang outcompeted it. The company went through bankruptcy auction and sold for only about $4,000, with over 200 potential buyers showing zero real interest, showing there is almost nothing left. What happens next depends on whether criminal trials of company executives result in major convictions, whether customers get their money back from pending lawsuits, and whether any buyer actually wants to revive the brand or domain after May 2026.
Why
01
AI pressure: None apparent. The company died from a cash and fraud crisis at parent Qoo10, not from AI shopping tools or AI-driven competitors. Could AI do the core job? Yes, likely.
02
Bigger players: Coupang. Coupang absorbed shoppers and sellers after the collapse but did not cause it; there is no company left to threaten. Could a giant copy it? Yes, easily.
03
What protects it. None. WeMakePrice has no operations, no meaningful assets, and creditors expect close to 0% recovery.
What would change this call
Outcome of criminal trials against Qoo10 CEO Ku Young-bae and nine other executives. Determines legal accountability for the fraud that caused the collapse.
Whether a new buyer acquires the WeMakePrice brand after the May 2026 auction. Would show whether any revival attempt is even possible.
Oasis Corp.'s progress relaunching TMON consumer operations by late 2026. Serves as a bellwether for whether reviving a defunct Korean e-commerce brand is feasible.
Whether a new buyer acquires the WeMakePrice brand after the May 2026 auction. Would show whether any revival attempt is even possible.
Oasis Corp.'s progress relaunching TMON consumer operations by late 2026. Serves as a bellwether for whether reviving a defunct Korean e-commerce brand is feasible.
Key numbers
- Declared bankrupt by Seoul court
- Brand and domain sold for 5.67M won (~$4,000)
- ~1.85 trillion won in settlement losses across the crisis
Named risks
- Company is fully liquidated with no operating business or assets of meaningful value.
- Ongoing criminal trials of executives for alleged 1.85 trillion won fraud and embezzlement.
- Ongoing consumer refund litigation continuing into 2026, including July 16, 2026 court order.
- No credible buyer has emerged despite 200+ contacts, suggesting near-zero brand revival prospects.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Coupang | gaining on | Absorbed market share as WeMakePrice collapsed into bankruptcy by Nov 10, 2025, though not the cause |
| TMON (Oasis Corp) | contesting | Sibling company acquired by Oasis June 2025 but still could not relaunch by June 23, 2026, unlike WeMakePrice which found no buyer |
| 11Street, Gmarket, eBay Korea | gaining on | Listed as historic Korean e-commerce peers benefiting from WeMakePrice's exit per competitor databases |
Questions people ask
- Is WeMakePrice still operating in 2026?
- No. WeMakePrice was declared bankrupt by the Seoul Bankruptcy Court on November 10, 2025 after a failed rehabilitation process. Its trademark and domain were later sold at auction for just 5.67 million won (about $4,000) on May 8, 2026, confirming it has no going business.
- What caused WeMakePrice's collapse?
- Parent company Qoo10's debt-fueled acquisitions drained seller-settlement funds, leaving overdue payments of 1.3 trillion won across WeMakePrice and TMON by August 25, 2024. Total damages reached an estimated 1.5 to 1.85 trillion won, forcing WeMakePrice into receivership on July 29, 2024.
- Could AI have saved WeMakePrice?
- No, WeMakePrice's failure was caused by financial fraud and mismanagement, not competition or AI disruption. A planned AI/big-data personalization initiative was reportedly never substantively launched before the company collapsed into bankruptcy in 2025.
- Who bought WeMakePrice?
- No credible buyer emerged. Genesis BBQ submitted a non-binding letter of intent in April 2025 but withdrew. Sale manager EY Hanyoung contacted over 200 potential buyers with no serious interest before the company was liquidated on November 10, 2025.
- Is Coupang WeMakePrice's biggest competitor?
- Coupang was the dominant incumbent in Korean e-commerce and absorbed market share as WeMakePrice collapsed, but Coupang did not cause the failure. WeMakePrice's demise stemmed from Qoo10's alleged 1.85 trillion won fraud and mismanagement, not competitive pressure.
- What happened to WeMakePrice executives after the collapse?
- Ten individuals, including Qoo10 CEO Ku Young-bae and former WeMakePrice CEO Ryu Hwa-hyun, were indicted in December 2024 on fraud and embezzlement charges tied to roughly 1.85 trillion won in misappropriated funds. Criminal trials were still ongoing as of mid-2026.
Timeline
- 2026-07-16Court orders travel agencies to refund TMON and WeMakePrice insolvency victims
- 2026-06-23Oasis reports about 70 billion won spent, TMON relaunch still stalled
- 2026-05-08WeMakePrice trademark and domain sold at auction for 5.67 million won
- 2025-11-10Seoul Bankruptcy Court declares WeMakePrice bankrupt
- 2025-09-09WeMakePrice rehabilitation process formally terminated by court
- 2025-06-01Oasis Corp acquires sibling company TMON for 11.6 billion won
- 2025-04-01Genesis BBQ submits, then withdraws, letter of intent to acquire WeMakePrice
- 2024-12-01Ten Qoo10/WeMakePrice/TMON executives indicted on fraud and embezzlement charges
- 2024-08-25Overdue seller settlements reach 1.3 trillion won combined with TMON
- 2024-07-29WeMakePrice files for court receivership alongside TMON
Revision history
22 July 2026
First assessed. Little protection left. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Seoul court declares WEMAKEPRICE bankrupt after failed rehabilitation efforts (2025-11-10)
- WeMakePrice bankruptcy proceedings after court dismissal (2025-09-09)
- Wemakeprice's Trademark and Domain Sold for 5.67 Million Won (2026-05-08)
- WeMakePrice goes bankrupt after Seoul court terminates rehabilitation process (2025-11-11)
- BBQ submits letter of intent to acquire WeMakePrice
- Qoo10's Aggressive Expansion Blamed for Delayed Settlements of TMON and WeMakePrice (2024-07-25)
- TMON, WeMakePrice seek court receivership
- Delayed payments of Tmon, WeMakePrice spike to W1.3tr (2024-08-25)
- Court orders travel agencies to refund TMON-WeMakePrice insolvency victims (2026-07-16)
- Oasis delays Tmon relaunch, shifts to boost own platform in South Korea (2026-06-23)
- Products, Competitors, Financials, Employees, Headquarters Locations (2026-05-28)
- WeMakePrice Stock Price, Funding, Valuation, Revenue & Financial Statements (2025-11-09)