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Interpark |
[Alpha Biz= Reporter Kim Jisun] Interpark Commerce, part of the Qoo10 group, and e-commerce platform 11st are embroiled in a dispute over unpaid settlements totaling around 1 billion KRW.
According to the retail industry on the 6th, Interpark Commerce's AK Mall has been operating as a "shop-in-shop" on 11st, selling products through the platform with over 1,700 participating vendors.
The conflict arose after the large-scale non-payment incident involving TMON and WeMakePrice (TMON) drew attention to the issue. In early August, 11st temporarily withheld payment of around 1 billion KRW to AK Mall, citing concerns about Interpark Commerce's potential insolvency and announced plans to directly settle payments with the sellers.
11st stated, "Although we will have to bear interest for the delayed payments, we made this decision to protect small business owners and other sellers. We believe that any issues regarding commission distribution and other matters can be resolved through negotiations with AK Mall."
However, Interpark Commerce argues that 11st's actions violate the "standard partnership entry agreement" that governs payment terms, accusing 11st of breaching the contract.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
