A special task force meeting regarding payment delays by WeMakePrice and TMON is held at Government Complex Seoul in Jongno District, Seoul, July 29. Yonhap

Prosecutors have begun looking into whether any legal charges can be applied to e-commerce platforms WeMakePrice and TMON over payment delays to consumers and vendors amid liquidity issues by their owner, judicial officials said Monday.

An anti-corruption department of the Seoul Central District Prosecutors Office is conducting the legal review in preparation for potential complaints from financial regulators and victims of the case that officials said caused massive damage to victims and disrupted market order.

"We are looking into various issues as much as this case merits," an official said.

The two Korean marketplaces have been in a crisis after failing to make payments to their vendors amid liquidity issues by their owner, Singapore-based Qoo10, reportedly due to aggressive merger deals. Hundreds of customers have also flocked to the headquarters of TMON and WeMakePrice to demand a refund.

If the two marketplaces were found to have maintained the contract with sellers and sold goods despite knowledge of their inability to repay the sales profits in time, they could be charged with fraud, according to judicial officials.

Officials also suspect the management of TMON and WeMakePrice could be charged with embezzlement and breach of trust if they used funds that belonged to the sellers for other purposes in an attempt to expand their business. (Yonhap)