Gov't provides 77.8 bln won to Homeplus workers over 5 months

Seoul, Aug. 14 (Yonhap) -- The South Korean government has injected 77.8 billion won (US$55 million) in financial aid to workers and partners of the struggling discount store chain Homeplus Co. over the past five months, according to the Ministry of Finance and Economy. From March 3 through August 14, workers received 35.9 billion won in unemployment benefits and unpaid wage reimbursements, along with 41.9 billion won in government-backed loans for living expenses, totaling 77.8 billion won in support.

Additionally, 11.6 billion won was allocated to local suppliers and partner companies through the Korea SMEs and Startups Agency and other public corporations. The banking sector contributed 30.9 billion won in loans to these businesses, extending loan maturities by 5.4 trillion won. A ministry official emphasized ongoing monitoring of Homeplus's operations and support measures to stabilize employees' livelihoods and partner companies' businesses.

Recently, Homeplus reopened all 67 of its nationwide outlets after a court decision extended rehabilitation proceedings, initiated in March 2025 due to financial strain from a prolonged downturn in the discount store industry, with MBK Partners as the sole owner.