The Democratic Party of Korea will hold a hearing on the Homeplus Co. crisis at the National Policy Committee on the 27th. It plans to hold MBK Partners accountable.
Kang Jun-hyun, the Democratic Party chief spokesperson, met with reporters after the Supreme Council meeting on the 15th and said, "Tomorrow the National Policy Committee will convene a plenary session to approve witness selection and set a hearing schedule related to the Homeplus Co. crisis."
Homeplus Co. temporarily suspended hypermarket operations starting on the 13th. It is unclear whether operations will resume.
The Democratic Party is urging MBK Partners, the largest shareholder of Homeplus Co., and Meritz Financial Group, the largest creditor, to prepare emergency operating funds. At the hearing, it is also expected to summon executives from the two companies to discuss plans to normalize Homeplus Co.
Han Byeong-do, the Democratic Party acting leader and floor leader, said at the Supreme Council that "despite the bankruptcy process for Homeplus Co. being just around the corner, MBK, the largest shareholder, and Meritz, the largest creditor, remain passive and are fixated solely on evading responsibility."
He added, "Public anger is surging over the deceptive conduct of MBK and Meritz, which are failing to meet even the minimum level of social responsibility," and emphasized, "The Democratic Party will make every effort to uncover the truth and punish those responsible, and further, to protect workers' right to livelihood, support related firms, and safeguard local economies."