SEOUL, Aug. 14 (Yonhap) -- A total of 77.8 billion won (US$55 million) in government funds has been provided to workers of financially troubled discount store chain Homeplus Co. over the past five months, the finance ministry said Friday.

Some 35.9 billion won in unemployment benefits and state payments of unpaid wages was provided to Homeplus employees from March 3 through Wednesday, according to the Ministry of Finance and Economy.

They also received 41.9 billion won in government-backed loans to cover living expenses over the same period.

On top of that, 11.6 billion won was provided to local suppliers and partner companies through the Korea SMEs and Startups Agency and other related public corporations.

The banking sector also provided 30.9 billion won worth of loans to such businesses and extended the maturities of loans worth 5.4 trillion, the ministry added.

"We will keep a close eye on the operations of Homeplus and maintain supportive measures to help stabilize the livelihoods and businesses of employees and partner companies," a ministry official said.

Earlier this week, Homeplus resumed operations at all 67 of its outlets nationwide following a court decision last month to extend its rehabilitation proceedings.

The retailer, wholly owned by private equity firm MBK Partners, has been financially strained by a prolonged downturn in the discount store industry and entered court-led rehabilitation proceedings in March 2025.

brk@yna.co.kr

(END)

  • BTS' V reveals hearing loss, Jungkook performs through shin injury on world tour
  • From 'BTS Boulevard' to U.S. governor's praise: BTS sweeps N. America on 'Arirang' tour
  • TWICE's Jeongyeon leaves JYP to pursue acting career
  • Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • (LEAD) Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • BTS' V reveals hearing loss, Jungkook performs through shin injury on world tour

  • From 'BTS Boulevard' to U.S. governor's praise: BTS sweeps N. America on 'Arirang' tour
  • TWICE's Jeongyeon leaves JYP to pursue acting career
  • Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • (LEAD) Pyeongtaek city fails to reach U.S. military via hotline over reported white phosphorus leak: official

  • BTS' V reveals hearing loss, Jungkook performs through shin injury on world tour

  • Trump signs memo permitting foreign shipbuilders to build up to 2 U.S. ships in their shipyards
  • (2nd LD) Gov't aims to supply over 230,000 additional homes in Seoul metropolitan area to tame housing prices
  • Bill Gates in S. Korea to discuss cooperation in next-generation nuclear reactors
  • (2nd LD) U.S. flags S. Korea, Japan, EU, others over transshipment risks involving China-linked goods