Seoul, South Korea – Homeplus, one of South Korea’s leading supermarket chains, has publicly apologized for the disruption caused by its recent initiation of bankruptcy restructuring proceedings. In a press conference held on March 14th, executives pledged to fully repay all outstanding commercial debts that were delayed as a result of the restructuring process.
We sincerely apologize for the inconvenience caused to our partner companies, franchise stores, and creditors due to the commencement of the restructuring process, stated Co-CEO Cho Joo-yeon during the press conference held at Homeplus headquarters in Seoul. We are committed to repaying all debts in a responsible manner and will strive to ensure that the restructuring process does not negatively impact anyone.
The company’s leadership emphasized their commitment to financial stability and maintaining trust with stakeholders. Co-CEO Kim Kwang-il also addressed the media, underscoring the importance of restoring confidence in Homeplus’s financial standing.
According to Homeplus, as of March 13th, the company has already repaid 340 billion Korean won (approximately 1.7 billion Chinese yuan) of its outstanding debt. The company reiterated its commitment to a phased repayment plan to settle all remaining obligations.
The announcement comes amidst concerns about the stability of the retail sector in South Korea and the potential impact of financial difficulties on suppliers and employees. Homeplus’s proactive approach to debt repayment aims to alleviate these concerns and demonstrate its long-term viability.
Conclusion:
Homeplus’s commitment to repaying its debts in full is a crucial step towards restoring confidence in the company and the broader South Korean retail market. The company’s actions will be closely watched by stakeholders, including suppliers, creditors, and consumers. While the restructuring process presented challenges, Homeplus’s pledge to responsible debt management signals a commitment to a sustainable future. Further developments regarding the restructuring and debt repayment plan will be critical in assessing the long-term impact on the company and the South Korean economy.
References:
- Yonhap News Agency. (2025, March 14). 韩连锁超市公司Homeplus称将依次偿还全额债务 [Homeplus, a Korean chain supermarket company, says it will repay all debts in full in order]. Retrieved from [Insert original URL here – if available]
Views: 0