Homeplus faces critical decision; Jeju workers demand government action

With a court decision on Homeplus's future looming, workers and activists in Jeju are demanding government intervention. The Progressive Party's Jeju chapter and the Mart Industry Labor Union's Jeju regional headquarters held a press conference calling on the government and National Assembly to resolve the crisis. They described the situation as a desperate plea to prevent the liquidation of a major company and a collapse of livelihoods for 300,000 people.

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The cries of mart workers on an indefinite hunger strike for over 50 days in Gwanghwamun Square are a desperate plea to prevent an unprecedented large-scale corporate liquidation and a national livelihood crisis affecting 300,000 people.

The Seoul Rehabilitation Court is set to decide on Homeplus's amended restructuring plan on March 3. The court had requested a concrete plan for additional funding, but Homeplus instead submitted a revised proposal focusing on profitability improvements through organizational changes. Activists argue that if liquidation occurs, it will lead to a national tragedy where citizens' right to survival is jeopardized.

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Even at this moment, workers on an indefinite hunger strike... are pleading to prevent a national crisis.

While the Homeplus store in Seogwipo, Jeju, is not slated for sale, its employees face significant challenges. Kim Eun-jeong, head of the Mart Union's Jeju branch, stated that many workers have resigned due to unpaid wages, with the workforce shrinking from over 200 to about 120. This reduction makes it difficult to create work schedules.

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If liquidation is decided as it is, it will lead to a national tragedy where the people's right to survival is driven to the streets.

Kim also pointed to a vicious cycle where the store cannot pay suppliers, leading to empty shelves, fewer customers, and declining sales. The Progressive Party and the Mart Union criticized the government and the ruling party for evading responsibility and urged them to actively support Homeplus's normalization. They called for an investigation into the situation, protection for victims, the exclusion of MBK Partners as the largest shareholder, and the appointment of a third-party administrator. They also demanded that MBK and major creditor Meritz Financial Group inject emergency funds immediately.

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Workers at the Seogwipo branch are also suffering from two to three months of unpaid wages, leading to many resignations.