South Korea Democratic Party demands 1 trillion won from MBK, Meritz to rescue Homeplus

The Democratic Party’s Euljiro committee, led by lawmaker Min Byung‑deok, met with MBK Partners and Meritz Financial executives and pressed them to provide about 1 trillion won (≈$770 million) in emergency operating funds for Homeplus. The party warned that without the cash, the collapse could affect roughly 10,000 Homeplus employees, 2,000 supplier firms and up to 100,000 local residents and small‑business owners.

The committee also urged the National Pension Service, which holds about 2.5 trillion won in assets managed by MBK, to pressure the fund manager and consider recovering its investment. MBK’s vice‑chairman Kim Kwang‑il apologized for the hardship caused, while Meritz’s chief executive Kim Jung‑hyun pledged to work toward a solution. Homeplus’ court‑ordered rehabilitation was dismissed, and the appeal period ends on May 22, increasing urgency for a stop‑gap financing arrangement.

The Democratic Party framed the request as a matter of social responsibility, stating that the amount is modest compared with the revenues Homeplus has generated and the potential loss of public trust if the retailer fails.