Meritz Financial Group said the largest shareholder, MBK Partners, should inject additional funds and share losses in connection with the Homeplus Co. situation.
Meritz Financial said in a statement on the 18th that for a responsible resolution of the Homeplus Co. situation, MBK Partners, as the largest shareholder, must first present self‑help efforts and a funding plan at a level the market can accept.
It added that MBK has introduced itself as the largest private equity fund in Northeast Asia and that with assets under management of about $32.5 billion (about 50 trillion won), it is estimated to earn annual revenue in the hundreds of billions of won range from ordinary management fees alone.
Meritz Financial also mentioned the asset size of MBK Chairman Kim Byung-ju. Meritz Financial said, Kim's estimated asset is $9.9 billion (about 1.52 trillion won), ranking second on Forbes' 2026 list of the richest in Korea, and argued that Forbes said this asset was built on large mergers and acquisitions (M&A) and investment performance through MBK.
It also noted that MBK's third buyout fund, which includes Homeplus Co., posted a 15.4% return last year despite its failed investment in Homeplus Co. Meritz Financial said, Nevertheless, MBK Partners claims it has no capacity to provide additional support to Homeplus Co. and is trying to shift that burden onto creditors, adding that MBK Partners, the largest shareholder of Homeplus Co. and holder of management control, is the party that should bear the greatest responsibility for this situation.
Meritz Financial expressed the view that it has fulfilled its role and responsibility as a creditor. Meritz Financial criticized, In contrast, MBK Partners has enjoyed the revenue gained from investment performance together with investors while trying to pass on the burden from management failure to creditors. This does not align with market common sense and the principle of responsible management.
The previous day, Meritz held a board meeting and approved providing an emergency debtor-in-possession (DIP) loan of 100 billion won to normalize management at Homeplus Co. However, it set joint guarantees by Chairman Kim Byung-ju personally and by the MBK corporation as conditions. With MBK pushing back, the conflict shows little sign of easing.