Retail sales index marks record drop in Q2 amid Homeplus fiasco
The retail sales index at Korea's discount stores posted the sharpest year-on-year fall in the second quarter, partly due to the closure or operation suspension of stores at Homeplus, which is going through a corporate rehabilitation process, government data showed Sunday. The retail sales index at Korea's discount store chains was 77.8 points in the April-June period, down 9.4 percent from the…
South Korea's discount store retail sales index plummeted to a record low in the second quarter, according to government data released on Sunday. The index, which measures sales at discount store chains, fell by 9.4 percent, reaching 77.8 points from April to June 2025, the Ministry of Data and Statistics reported. This represents the steepest quarterly decline since statistics were first recorded in 2010, underscoring the severe impact of the retail sector's recent woes.
One of the primary factors cited for this sharp decline was the closure and suspension of numerous stores, particularly those belonging to the struggling retailer Homeplus. As of June 2025, Homeplus had shuttered 37 out of its 104 offline locations, primarily due to a shortage of operating capital and operational difficulties. The bankruptcy court terminated rehabilitation efforts for Homeplus in early July, and the company subsequently suspended operations at its remaining 67 stores on July 13, before reopening them following the court's decision.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
