Homeplus to Secure 200 Billion Won in Emergency Funds... MBK and Meritz Reach Tentative Agreement on Support

On July 15, it was reported that MBK Partners, the largest shareholder of Homeplus, and Meritz Financial Group, its largest creditor, have narrowed most of their differences regarding how to provide at least 200 billion won in emergency funds necessary for Homeplus’s revival.

According to political and retail industry sources, the two sides are believed to have reached a consensus under which Meritz Financial Group would provide a debtor-in-possession (DIP) loan as emergency operating funds if Byungju Kim, Chairman of MBK Partners, personally guarantees the 200 billion won.

Min Byungduk, Euljiro Committee Chairman of the Democratic Party, is speaking at the MBK Partners-Meritz management meeting for the revival of Homeplus held at the National Assembly Members' Office Building on July 9, 2026. Photo by Hyunmin Kim

If Meritz Financial Group's board of directors approves this plan on July 16, Homeplus will be able to reverse the previous decision to abolish its rehabilitation proceedings through procedures such as an immediate appeal.

In this case, there is a possibility that Homeplus will re-enter the rehabilitation process.

Earlier, on July 3, the Seoul Bankruptcy Court decided to terminate Homeplus’s rehabilitation process; however, the court allowed the possibility of reversal if 200 billion won in emergency operating funds were raised and an appeal was filed within the timeframe for an immediate appeal.

The deadline for filing an immediate appeal against the decision to terminate Homeplus's rehabilitation process is July 20.

The resolution of differences between MBK Partners and Meritz Financial Group was achieved amid pressure from the Euljiro Committee and other members of the Democratic Party of Korea.

The Democratic Party of Korea is scheduled to hold a parliamentary hearing on the Homeplus situation at the National Assembly’s Political Affairs Committee on July 27. On July 9, the party’s Euljiro Committee urged MBK Partners and Meritz Financial Group to secure emergency funds and devise a revival plan.

This content was produced with the assistance of AI translation services.