Homeplus tenant store funding requires full lender consent

South Korean financial authorities and banks are drafting a voluntary consortium agreement for Homeplus tenant stores. Under the draft, any recovery of loans or enforcement of collateral on these stores will need unanimous approval from all participating lenders. The agreement would also allow loan extensions if two‑thirds of the consortium vote in favor and waive late‑payment interest for stores unable to meet obligations.

The exposure linked to Homeplus tenant stores is estimated at roughly 3 trillion won. Banks have already written off about 100 billion won of direct loans to Homeplus. The measure aims to prevent a cascade of defaults among tenant operators, protect downstream suppliers and workers, and contain broader financial‑sector risk.