Prosecution to Summon MBK Partners Chairman Kim Byungju Soon Over 'Homeplus Incident'

Notice of Summons for Kim on the 11th; Detailed Schedule Under Coordination

On September 8, it was reported that prosecutors are planning to summon Kim Byungju, Chairman of MBK Partners, for questioning regarding allegations that he concealed the financial crisis at Homeplus and shifted the resulting losses onto ordinary investors.

Kim Byungju, Chairman of MBK Partners, accused of fraud involving approximately 100 billion won related to the 'Homeplus Incident.' Photo by Yonhap News

According to legal sources, the 2nd Anti-Corruption Investigation Division of the Seoul Central District Prosecutors' Office (headed by Chief Prosecutor Lee Sanghyuk) is planning to summon Kim on suspicions of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and fraudulent unfair trading under the Capital Markets Act. While the exact date of the summons has not been finalized, prosecutors are said to have notified Kim's side that the investigation is scheduled for the 11th and are currently coordinating the detailed schedule.

Kim stands accused of, along with the Homeplus management, issuing large volumes of electronic short-term bonds (ABSTB) despite being aware of Homeplus's impending credit rating downgrade, and then abruptly filing for corporate rehabilitation, causing losses for investors. Korea Ratings·KR downgraded Homeplus's credit rating from 'A3' to 'A3-' on February 28 of last year. Homeplus applied for corporate rehabilitation procedures (court receivership) at the Seoul Bankruptcy Court on March 4.

Previously, prosecutors filed for an arrest warrant against Kim and others in January, but the court dismissed it. Subsequently, the case was reassigned from the 3rd to the 2nd Anti-Corruption Investigation Division, and the prosecution has since conducted a thorough legal review and reinforced its investigation.

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