The government will support workers affected by wage arrears at Homeplus with advance payments for unpaid wages and living expense loans, while also offering management consultation for partner companies.
Kang Gi-ryong, Deputy Minister of Finance, held a meeting on July 24 at the Government Seoul Complex with a dedicated task force to assess the situation of Homeplus employees and partner companies.
According to the review, from July 3 to 23, following the court's termination of the rehabilitation process, the Ministry of Employment and Labor received 1,935 consultations through its one-stop counseling service.
The government plans to guide Homeplus in resolving wage arrears promptly after securing DIP financing. Additionally, it will closely monitor the situation to prevent further occurrences of wage delays.
Currently, the Ministry of Finance is providing up to 21 million won (approximately $18,000) in advance payments for unpaid wages and up to 10 million won (about $8,500) in living expense loans for affected workers. As of July 23, a total of 41 billion won (around $34 million) in living expense loans has been disbursed across 8,934 cases since the start of the rehabilitation process.
Furthermore, 152 consultations for management difficulties have been conducted through the one-stop counseling service of the Small and Medium Business Administration. Additionally, as of July 23, a total of 6.5 billion won (approximately $5.5 million) in emergency management stabilization funds has been provided to small businesses.
Emergency management stabilization funds for small and medium-sized enterprises will begin accepting applications on July 27. Homeplus partner companies will also be included in the emergency management guarantee support, extending the existing guarantee period by one year.
Support has also been extended for loans to Homeplus partner companies. As of July 17, banks have provided 52 trillion won (about $43 billion) in maturity extensions and repayment deferrals, along with 19.1 billion won (approximately $16 million) in new emergency loans.
* This article has been translated by AI.
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