According to a report from the South Korean retail industry and the Homeplus Company General Union, Homeplus’s largest shareholder MBK Partners and its largest creditor, Meritz Financial Group, reached a preliminary agreement on July 15 to provide 200 billion KRW in emergency operating funds, with Homeplus’s restructuring pending.
Preliminary Agreement on July 15: Guaranty Arrangements and Statements from Each Party
According to a statement from the South Korea retail industry and the Homeplus Company General Union on July 15, 2026, MBK Partners and Meritz Financial Group reached a preliminary agreement that day to provide 200 billion KRW in emergency operating funds. Previously, the parties’ financing negotiations had stalled, with the main sticking point being the issue of guarantees; according to reports, MBK Partners’ chairman, Kim Byung-joo, agreed to provide personal guarantees for the full 200 billion KRW, resolving the negotiation bottleneck.
On July 15, 2026, Min Byung-deok, chairman of the Democratic Party’s Eulchi-ro Committee, made a public statement at the “Homeplus Employees and Merchants Conference” held in Seoul: “By tomorrow (the 16th), the issue of 200 billion KRW in funding will be resolved, thereby avoiding bankruptcy for Homeplus Co. and allowing full-scale restructuring work to get underway.”
Meritz’s Boards of Directors for Three Subsidiaries on July 16: Financing Vote Agenda
Meritz Financial Group’s three subsidiaries have announced that on July 16, 2026, their respective boards of directors will be held for the final vote on whether to additionally inject 200 billion KRW, as follows:
· Meritz Fire (Meritz Fire Insurance)
· Meritz Securities (Meritz Securities)
· Meritz Capital (Meritz Capital)
According to statements from the parties, if all three subsidiaries’ boards approve the financing agenda, Homeplus Co. will immediately file an appeal with the Seoul Bankruptcy Court, and the reorganization process can resume and proceed.
Seoul Bankruptcy Court Ruling and July 20 Appeal Deadline: Timetable Already Announced
The Seoul Bankruptcy Court previously ruled to terminate Homeplus Co.’s reorganization process and, in its ruling, clearly set forth the procedural conditions: if Homeplus gathers 200 billion KRW in operating funds before July 20, 2026 (the final deadline for an immediate appeal), the reorganization process may be restored.
Since July 13, 2026, Homeplus Co. has temporarily shut its headquarters and all 67 stores nationwide due to a lack of operating funds, which resulted in insufficient funds to cover ongoing store maintenance costs. During this period, the company’s employees’ union separately visited the Presidential Office, the National Assembly, and MBK Partners’ headquarters to submit petitions, urging that the restructuring process be continued.
FAQ
What agreement did MBK Partners and Meritz reach regarding the capital injection into Homeplus?
According to a statement from the South Korea retail industry and the Homeplus Company General Union on July 15, 2026, MBK Partners and Meritz Financial Group reached a preliminary agreement to provide 200 billion KRW in emergency operating funds. MBK Partners’ chairman, Kim Byung-joo, has agreed to provide personal guarantees for the full 200 billion KRW.
When will Meritz’s board vote be held, and what will it decide?
Meritz Financial Group’s three subsidiaries (Meritz Fire, Meritz Securities, Meritz Capital) have announced that on July 16, 2026, they will each hold their board meetings to make the final decision on whether to additionally inject 200 billion KRW.
What is the Homeplus appeal deadline set by the Seoul Bankruptcy Court?
The Seoul Bankruptcy Court ruled that if Homeplus raises 200 billion KRW in operating funds before July 20, 2026, the reorganization process may be restored; this is the formal procedural condition set by the court when it terminated the reorganization process.
