Farmers and Nonghyup Suffer Losses of 19.2 Billion Won Due to Timeff Incident

Assemblywoman Im Mi-ae: "Damage to Agricultural, Livestock, and Fisheries Products Must Be Assessed Quickly and Accurately"

Due to the payment settlement failure involving TMON and WEMAKEPRICE (Timep), at least 19.2 billion KRW in damages have been reported in the agriculture and food sectors as well as the NongHyup (National Agricultural Cooperative Federation). The scale of the damage is increasing by tens of billions of won daily.

According to an analysis of the "E-commerce Incident Damage Status" submitted by the Ministry of Agriculture, Food and Rural Affairs and NongHyup Central Association to Democratic Party lawmaker Lim Mi-ae on the 2nd, the agriculture and food sector has not received 15.734 billion KRW, and NongHyup business sites have not received 3.385 billion KRW in sales payments.

In particular, the damage in the agriculture and food sector is rapidly increasing day by day. As of the 31st of last month, the unsettled amount was 5.287 billion KRW, but it increased to 9.217 billion KRW this month and was recorded at 15.73 billion KRW on the 2nd. Forty-one food companies suffered 11.913 billion KRW in damages, 50 agricultural corporations 3.734 billion KRW, 12 rural experience villages 46 million KRW, and 12 farmers 41 million KRW.

On the 29th of last month, when the 'Unsettled Sales Payment Incident' of Wemakeprice and TMON was ongoing, affected business operators gathered in the empty office at Wemakeprice headquarters on Yeongdong-daero, Gangnam-gu, Seoul. On that day, Koo Young-bae, CEO of Qoo10, stated in a press release, "We will minimize consumer damage and prevent the spread of the incident through prompt response." Photo by Jo Yong-jun jun21@

NongHyup also suffered significant damages. In total, 14 locations (3 in Gyeongbuk, 2 in Gyeonggi, 2 in Jeonnam, 2 in Chungnam, 1 in Seoul, 1 in Incheon, 1 in Gangwon, 1 in Jeonbuk, and 1 in Jeju) reported damages. The largest damage was at the Dangjin City NongHyup Rice Cooperative Joint Business Corporation, which supplied 1,600 tons of rice to TMON and did not receive 2.32 billion KRW in payment. Additionally, Seoul Milk Cooperative has not recovered 200 million KRW, and Jeju NongHyup Cooperative has not recovered 190 million KRW.

Lawmaker Lim stated, "The aftermath of the Timep incident has also affected farmers and the agriculture and food sectors," adding, "Although the Ministry of Agriculture, Food and Rural Affairs is continuously monitoring the damage situation using related organizations, associations, and groups, the actual damage is expected to be much greater. The government must promptly and accurately assess the damage to fresh agricultural, livestock, and fishery products alongside small business owners and prepare support measures."

This content was produced with the assistance of AI translation services.