Summary
- Qoo10, the parent firm of TMON and WeMakePrice, is merging the two e-commerce platforms to address liquidity crisis.
- A new business entity named KCCW with an initial capital of 1 billion won has been established for the merger.
- Approval from the Seoul Bankruptcy Court is required for the merger to proceed.
- Qoo10 founder will place his stake under the control of KCCW as part of the merger proposal.
