The Korea Fair Trade Commission and the Korea Consumer Agency announced that they have allocated an additional 450 million KRW to the consumer compensation and dispute mediation budget in response to the Tmon and WeMakePrice (hereinafter referred to as “Timape”) crisis. This additional budget has been reflected in the government’s 2025 budget proposal.
Recently, 22,005 consumers have applied for collective dispute mediation due to delayed settlement payments by Timape, including 9,028 victims in the travel, lodging, and airline sectors, and 12,977 victims related to gift certificates. This is the largest case in the history of the Consumer Agency, requiring swift action.
The Consumer Agency plans to prepare dispute mediation proposals for the travel, lodging, and airline sectors by December of this year and will expedite the handling of disputes related to gift certificates as quickly as possible. Once the budget is confirmed, the agency will hire dedicated personnel for dispute mediation and revamp the computer system to facilitate the smooth handling of large-scale dispute resolutions.
If a business rejects the collective dispute mediation decision, the agency will support consumers in litigation by hiring lawyers and covering legal fees, making every effort to ensure victim compensation. This is to assist consumers who may face difficulties in pursuing legal action due to time and financial constraints, with the ultimate goal of securing final compensation for them.