South Korea’s major e-commerce platform WeMakePrice has been declared bankrupt by the Seoul Bankruptcy Court, marking the end of its rehabilitation efforts after struggling financially for over a year. The decision came approximately 16 months after WeMakePrice filed for court receivership in July 2024 due to a large-scale unpaid settlement crisis that impacted thousands of buyers and sellers.
The court cited the absence of a viable rehabilitation plan and concluded that the liquidation value of WeMakePrice’s business exceeded its going-concern value. Following this, the court terminated the company’s rehabilitation proceedings in September 2025 and officially declared bankruptcy in November. Attorney Lim Dae-seop has been…