Homeplus to Close 37 Stores Nationwide, Affecting Around 1,500 Employees

Homeplus has decided to permanently close 37 stores across the country that were previously temporarily shut down.

On June 4, the company informed the Homeplus branch of the Mart Industry Labor Union and the general union that it would close the 37 stores that had been on hiatus since May 10. Initially, the suspension was set to last until June 3, but the decision to close was influenced by the company's restructuring process and financial situation.

As part of this closure, Homeplus plans to implement a restructuring support program for the employees at the affected stores. Employees at the managerial level and above will be offered voluntary retirement, although those with less than six months until retirement will not be eligible. Employees below the managerial level will receive support under an employment stability agreement between the labor and management.

However, the actual disbursement of support funds remains uncertain. Homeplus stated that the voluntary retirement and support programs would only be applicable if creditors agree to provide emergency operating funds and extend the restructuring process due to the depletion of operational funds. Therefore, it is unclear whether employees will actually receive their retirement or employment stability payments.

According to the labor union, approximately 3,500 employees work at the 37 stores, with around 1,500 eligible for voluntary retirement.

Meanwhile, the deadline for approving Homeplus's restructuring plan, which entered corporate rehabilitation proceedings in March of last year, is set for July 3. Recently, the company has put its remaining business segments, including its headquarters and online and large store operations, up for sale.