MBK Partners said on the 11th that it has fully executed the promised 100 billion won in emergency operating funds in connection with Homeplus Co. corporations rehabilitation proceedings.
In a statement released that day, MBK Partners said, "After providing 50 billion won on the 4th, we executed an additional 50 billion won today, completing direct support of emergency operating funds totaling 100 billion won."
The funds injected this time are expected to be used to stabilize operations, including paying salaries to Homeplus Co. executives and employees and settling payments to partner companies.
MBK said, "In the funding process, considering the uncertainty of an extension of rehabilitation, we prioritized certainty of execution, and in that process, Chair Kim Byung-ju's home and other personal asset were provided as collateral," adding, "It was a measure to fulfill the responsibilities of the largest shareholder and a decision to ensure the funding would not remain a mere plan but be actually executed."
It added, "As stated to the court, even if the rehabilitation plan is not approved going forward and the proceedings are terminated, we have also committed not to exercise a claim for repayment on this 100 billion won."
MBK Partners said, "Including this emergency operating funding, MBK is shouldering a total of 400 billion won in connection with Homeplus Co. corporations rehabilitation, including grants from key management's private funds," adding, "As the largest shareholder, we will calmly perform the necessary role to faithfully carry out the Homeplus Co. rehabilitation plan and normalize management."