South Korea’s Personal Information Protection Commission will oversee the safe destruction of personal data held by Interpark Commerce and WeMakePrice after the two companies were declared bankrupt. The commission said the possibility of restarting services has effectively vanished, and it plans to destroy member data collected and processed to prevent potential leaks. It will work with bankruptcy administrators to verify IT assets and data locations and ensure irreversible deletion, while blocking any illegal distribution during disposal of used equipment.

A Seoul court has terminated Interpark Commerce’s rehabilitation proceedings, ruling that its liquidation value is higher than its value as a going concern. The firm failed to submit a rehabilitation plan by the court deadline. Interpark Commerce, which has been under court management without a buyer alongside Wemakeprice, could face a bankruptcy review once the decision becomes final. Wemakeprice was declared bankrupt last month after a large unpaid settlement incident, while Tmon ended its rehabilitation after a sale to Oasis.