TMON, facing refund issues, promises quick resolution... ”Refunds to consumers within 3-4 days” = Korea

South Korea's major online retailer (e-commerce/EC) TMON has announced that it will "process all refunds received from consumers within 3-4 days" to address the issue of delayed refunds.
If the refund is not made within the promised time, a legal dispute is likely to be unavoidable. On the 24th, according to the Korean media "Herald Business", Timon said,
On the 2nd, the company responded to the Korea Consumers Federation, a civic organization, with the above information. The Consumers Federation has been receiving an increasing number of inquiries about delayed refunds.
In the case of Price, there is no clear deadline for refunds. The Korea Consumer Agency is still investigating the delays in settlements for Timon and Price.
The hospital has been receiving a flood of inquiries about refunds. However, it is not accepting applications for victim relief. If an application for victim relief is made, the hospital will begin arbitration.
The settlement delay problem of Timon and Wemep, which are subsidiaries of Singapore-based e-commerce site Qoo10, is expanding.
Currently, Timon and Wemep are not properly settling payments to sellers or refunding consumers.
The electronic payment service PAY has also been affected.
Wemep does not accept credit card payments. In addition, conversion of Timon Cash to Payco points, transactions with Happy Money, and point conversions have also been suspended since the previous day.
As a result, consumers who have purchased airline tickets, accommodation vouchers, rental cars, various tickets, and travel package products are being asked by travel agencies and others to cancel their purchases or make new payments.
Travel agencies such as Hana Tour and Norampunsong (Yellow Balloon) have sent certified letters to Timon and Wimep demanding settlement and are now asking customers to repay.
A Q10 Group official said, "It is difficult to grasp how much the unpaid settlement amount is and the extent of the damage suffered by sellers," and added, "Liquidation of small-amount sellers is still ongoing.
"We are asking large sellers to wait for settlements," he explained. "We are working hard to normalize all settlement and refund procedures," he added.