Minju, Accelerates MBK National Assembly Hearing on 'Homeplus Incident'

The Democratic Party of Korea is accelerating efforts to hold a parliamentary hearing on MBK Partners and MBK Chairman Kim Byung-joo regarding the Homeplus corporate rehabilitation crisis.

Members of the Homeplus branch of the Mart Industry Union under the National Service Industry Labor Union Federation held an expanded executive resolution rally on the 14th in front of D Tower, where MBK's office is located, in Jongno-gu, Seoul, shouting slogans such as "MBK, responsible for Homeplus corporate rehabilitation." Photo by Yonhap News

Democratic Party lawmakers from the National Assembly's Political Affairs Committee held a press conference at the National Assembly on the 15th, urging, "MBK Partners should promptly establish a concrete repayment and Homeplus normalization plan, including personal fund contributions, and report it to the National Assembly."

They stated, "The anxiety caused by the Homeplus crisis, triggered by an unprecedentedly hasty corporate rehabilitation application, is not subsiding," and pointed out, "The actual amount of funds needed to normalize Homeplus exceeds 2 trillion won, whereas last week, MBK Chairman Kim Byung-joo provided a payment guarantee of only 60 billion won."

They continued, "There is also a lack of a concrete plan for creditor repayment and contributions toward Homeplus normalization," adding, "Whether Chairman Kim truly intends to contribute personal funds or is merely trying to minimize responsibility for bond repayments such as short-term bonds, the longer time drags on, the greater the distrust will inevitably become."

Addressing the People Power Party, they said, "Does the People Power Party not see the small business owners and workers struggling day by day?" and urged, "If you truly care about the people, promptly cooperate in convening the MBK hearing."

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