Homeplus welcomed the court's decision to extend its rehabilitation proceedings by two months, reaffirming its commitment to completing restructuring plans and normalizing operations.
"We are grateful for the Seoul Rehabilitation Court's decision," Homeplus said on Tuesday. "We will complete all restructuring plans without delay and achieve normalization."
The company also presented its restructuring achievements to date. Homeplus explained that visible results are emerging, including 160 billion won in labor cost savings through closing underperforming stores and workforce optimization, along with a 100 billion won improvement in operating profit.
"Once we complete all planned restructuring measures and normalize operations, we expect to turn operating profit positive by 2028," the company said, emphasizing the necessity of extending rehabilitation proceedings.
Over the next two months, Homeplus plans to complete remaining restructuring tasks, including the sale of its supermarket division "Homeplus Express," and solidify the foundation for normalization. The company aims to restore profitability through business portfolio reorganization and cost structure improvements.
The company is also addressing liquidity concerns. Major shareholder MBK Partners has decided to immediately inject 100 billion won to address Homeplus's urgent funding needs. Homeplus expects short-term liquidity pressure to ease if additional capital contributions and asset sales proceed in parallel.
"This extension period will be our final opportunity to complete the restructuring," Homeplus said, reiterating its determination to achieve normalization.