The Seoul Central District Prosecutors' Office conducted a raid on the residence of Qoo10 Group CEO Ku Young-bae. There is a possibility that Ku Young-bae may lose control over Qxpress, the logistics arm of the group, as financial investors are considering taking over his management rights. A group of private equity firms, including Crescendo Equity Partners, Corstone Asia, Metistone Equity Partner, Cactus Private Equity, and Korea Development Bank Private Equity, are in discussions to convert their rights in the company to common stock, having collectively invested 170 billion won ($124 million) into Qxpress. This move comes in the midst of a liquidity crisis involving Qoo10-owned Tmon and WeMakePrice, with the investors aiming to distance themselves from Ku, who currently holds nearly 95 percent of the company. If the investors exercise their rights, they could gain more than 50 percent of the company, reducing Ku's stake to below 50 percent. Meanwhile, financial authorities have reported that the amount of delayed payments to vendors by Tmon and WeMakePrice has reached 274.5 billion won as of Wednesday, up from 213.4 billion won a week ago. This figure is expected to increase significantly as additional transactions from June and July approach their settlement dates.