This article was displayed on the ChosunBiz MoneyMove (MM) site at 2:27 p.m. on Jun. 2, 2026.
Harim Group is pushing a plan to resume product supply by providing payment guarantees to suppliers ahead of its acquisition of Homeplus Express. The move is said to reflect Chairman Kim Hong-kuk of Harim Group's determination that empty shelves must be filled first to operate stores normally from day one of the acquisition.
According to the investment banking (IB) industry and according to legal sources on the 2nd, NS Home Shopping, an affiliate of Harim Group, is pursuing a plan to resume product supply to major suppliers of Homeplus Express.
Since Homeplus Co. entered corporate rehabilitation proceedings, delays in payments for goods to partners have led to product shortages at some stores. Homeplus Co. is asking Meritz Financial Group for a bridge loan to fill the operating capital gap until the sale proceeds come in, but with both sides far apart on conditions, normalization of deliveries appears to be delayed.
Harim Group is said to have concluded that it must secure inventory before closing to normalize operations immediately after the acquisition. The date for the deposit of the acquisition price and completion of the business transfer is set for the 22nd.
The key is that Harim Group guarantees payment for new deliveries. While the purchase orders are placed by Homeplus Express, the plan would allow suppliers to claim payment from Harim if they are not paid. For suppliers, supplying goods to Homeplus Express, which is in rehabilitation, carries the risk of nonpayment, so Harim Group would guarantee payment for a certain period or within a certain limit.
However, because Homeplus Co. is undergoing rehabilitation, Harim's payment guarantees and the resumption of product supply require a ruling from the Seoul Bankruptcy Court. Even if Harim Group provides payment guarantees to suppliers, if product supply before the acquisition closes is carried out in the form of purchase orders and procurement by Homeplus, which is a rehabilitating corporation, new goods payment debt could arise for Homeplus. In that case, there is a possibility the debt could be recognized as an administrative claim in the rehabilitation proceedings, so a court decision is necessary, analysts say.
An expert in corporate rehabilitation said, "The court's main review points will likely include the limit and duration of the payment guarantee, who pays for the new deliveries, and who holds title to the inventory and the sales proceeds."