Homeplus union seeks supplier consent to defer ₩503 billion in claims ahead of Sept. 4 ruling

The Homeplus General Labor Union is urging 1,267 supplier companies owed a combined ₩503 billion (approximately $362.6 million) in public-interest claims to accept repayment deferrals before the Seoul Bankruptcy Court rules on the retailer’s rehabilitation plan on September 4. Only about 30% of suppliers have submitted consent forms. Because public-interest claims must normally be paid as they arise during rehabilitation, individual creditor consent is required for any deferral. The union is citing employee sacrifice, including a two-month wage deferral approved by 95% of union members and 75% of all employees, as it seeks supplier support. Homeplus has received ₩200 billion (approximately $144.2 million) in DIP financing from Meritz Financial Group, reopened stores after narrowly avoiding liquidation, and plans to launch a post-approval M&A process if the court approves the plan. It says deferred claims will be repaid with top priority once an acquirer is selected.

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