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MBK chairman to leverage own funds to pay Homeplus suppliers

Korea Economic Daily LogoKorea Economic Daily7h ago

MBK chairman to leverage own funds to pay Homeplus suppliers - Korea Economic Daily

Quick Summary:

Michael ByungJu Kim, co-founder, partner and chairman of Northeast Asia-focused private equity firm MBK Partners Ltd., is expected to leverage personal wealth to pay suppliers to Homeplus Co., South Korea’s major retailer under court protection.“Chairman Kim will come up with a financial support plan to pay small and medium-sized (Homeplus) suppliers without delay,” read a statement released by MBK on Sunday, adding that the PEF is currently evaluating the total payment amount to determine the payment size and methods.

The move, which came as a surprise, met a backlash from the market as Homeplus had actively sold short-term debts in the capital market until the very last minute before filing for the court protection without notifying investors of the retailer’s financial difficulties.

Such high societal pressure, which is suspected to have led the MBK chairman to leverage personal wealth to bear financial burden, is somewhat justified, whereas some people argued that it is not necessary to drive the asset manager operating funds of limited partners to the wall beyond legal responsibility.


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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-17 @ 13:20:41 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 615 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 27073253

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About Korea Economic Daily

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Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 6 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

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