Homeplus suppliers demand clear repayment plan for overdue payments

Suppliers who have not received payment for goods delivered to Homeplus are urging the Seoul Rehabilitation Court to establish a concrete repayment plan for their outstanding debts. The suppliers, organized as the "Homeplus Commercial Public Creditors Council," submitted an official opinion to the court on August 18, highlighting their concerns.

Homeplus, which filed for receivership in March 2025, owes suppliers approximately 793.9 billion won as of the end of May. The suppliers argue that under current law, "public interest claims," such as payments for goods supplied during receivership, should be prioritized and repaid promptly to protect those who continue to supply the company during its restructuring.

However, the suppliers criticize Homeplus's rehabilitation plan for offering a vague commitment to repay public interest claims "from operating profits and other sources as needed." This contrasts with the detailed 10-year repayment plan provided for general rehabilitation claims. They are demanding clarity on when and how these significant overdue payments will be settled.

Further complicating matters, the suppliers have raised concerns about the allocation of a recent 200 billion won emergency loan obtained by Homeplus from Meritz Financial Group. While acknowledging the need for funds for store reopenings, new inventory, and employee wages, they point out that no portion of this emergency funding appears to be allocated towards settling their long-standing debts.

The suppliers emphasize that the goods they provided, valued at approximately 790 billion won, have already been sold and converted into cash within Homeplus stores. They are demanding an accounting of these sales proceeds and a portion of the emergency loan be used to address their outstanding claims. The council and its legal representatives plan to request an opportunity to present their views during the rehabilitation plan review and are considering further actions, including government and parliamentary appeals and legal proceedings. The court is set to decide on Homeplus's rehabilitation plan by September 4.