Homeplus to reopen 67 stores in South Korea on the 13th

Homeplus will resume operations at 67 stores across South Korea starting on the 13th, following a temporary suspension caused by a shortage of operating funds during its rehabilitation process. To mark the reopening, the retailer is launching large-scale discount events through late August, including up to 50% off on items such as Korean beef, chicken, meat, seafood, and fruit.

While 67 physical locations are reopening, 59 of these stores will also resume online operations. The company plans to restructure its stores by converting multi-story layouts into single-story structures and refocusing its inventory on daily necessities, food, and private brand (PB) products to improve efficiency.

The resumption of business was made possible after Kim Byung-joo, Chairman of MBK Partners, provided a personal guarantee for a 200 billion won emergency operating fund loan, which was subsequently supported by Meritz Financial.