Homeplus rehabilitation plan triggers support for workers and small businesses

Following the court's approval of Homeplus's rehabilitation plan, the South Korean government and local authorities are implementing measures to support workers and affected small businesses.

Uijeongbu City has signed an agreement with the Gyeonggi Credit Guarantee Foundation to provide 800 million won in special guarantees. This initiative, funded by a 100 million won contribution from the city, aims to assist merchants within the Uijeongbu Homeplus branch, as well as their direct and indirect suppliers who are facing financial difficulties due to the company's corporate rehabilitation process.

At the national level, the Ministry of Economy and Finance, alongside other government agencies, is monitoring the implementation of the rehabilitation plan to ensure business normalization. To date, the government has provided significant support, including 41 billion won in unemployment benefits and 440 billion won in emergency liquidity for partner companies through various credit guarantees and management stability funds.