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SMBA Extends Principal Repayment for Ticket Monster and WeMakePrice Victims by One Year, Waives Premium Interest

PolicyNovember 4, 20261 min read

South Korea's Ministry of SMEs and Startups (SME ministry) will delay loan principal repayments by one more year for small firms hurt by the Tmon and WeMakePrice (TMON-WMP) collapse. It will also drop the extra interest that usually comes with a loan extension.

What happened

The SME ministry announced on the 4th a special extension of policy loans for companies hit by the 2024 Tmon and WeMakePrice incident. Firms that got emergency business loans through the 2024 support program can now delay paying back the principal for one more year. They will not have to pay the extra interest that normally applies to a loan extension.

Key numbers and dates

Emergency loans were given from September to December 2024.
The original deal let firms skip principal payments for 2 years, then repay over 3 years.
The extension adds 1 more year to that grace period.
Firms with late payments of up to 30 days on SME policy loans can also apply.
Applications open today and run until February 26, 2027.

Why the loans are coming due now

The original emergency loans let firms pause principal payments for two years. Because each company's grace period ends at a different time, repayment costs are expected to rise for many of these firms starting this year. The ministry's extension is meant to ease that pressure before it hits.

Why it matters

The ministry says the goal is to help firms with short-term cash problems lower their repayment burden and focus on getting their business back on track. Ministry official Shim Jae-yun said he hopes the step will reduce temporary cash shortages for affected SMEs and support their recovery.

Glossary

Tmon and WeMakePrice (TMON-WMP): Two Korean online shopping platforms whose sudden collapse in 2024 left many sellers and small businesses short of money.
Ministry of SMEs and Startups: The South Korean government office that supports small and medium-sized businesses and startups, including through policy loans.

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