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Homeplus shuts all stores after suspending outlets and restructuring
The retailer received a 200 billion won emergency loan to challenge a court decision, but it still faces issues including unpaid wages and supplier payments.
South Korea’s Homeplus said it has closed all 67 of its remaining operating outlets nationwide after previously suspending 37 stores as part of a restructuring, ending the hypermarket shopping routine it had built over nearly three decades, according to SCMP Economy.
SCMP Economy reports the company secured a 200 billion won emergency loan approved on Thursday, giving it temporary breathing room to challenge a court decision that had pushed it closer to liquidation.
Retail analysts cited by SCMP Economy said Homeplus’s crisis reflects pressure on the hypermarket model from online shopping and smaller households. The outlet points to a 2025 Statista survey showing nearly 80% of South Koreans shop online, and a May trade ministry report saying online platforms accounted for more than 60% of sales for the country’s major retailers earlier this year.
Even with the loan, Homeplus faces questions tied to its financial and operational situation, including concerns about unpaid wages and supplier payments, SCMP Economy said.