A Homeplus store in Seoul. [Yonhap]
A Homeplus store in Seoul. [Yonhap]

Second-hand trading platforms have moved to halt the sale of Homeplus gift cards following a court ruling to terminate the retailer's rehabilitation proceedings. Homeplus has said it is still working toward a recovery, but consumer protection measures are spreading across the industry.

According to industry sources Wednesday, the second-hand platform Junggo Nara banned listings of Homeplus gift cards starting July 3 and posted a public notice warning users to exercise caution in any related transactions. Homeplus gift cards come in paper, digital and mobile formats. They can be used at Homeplus stores but are not accepted at Homeplus Express outlets, which were acquired by NS Home Shopping.

Junggo Nara warned that the termination of rehabilitation proceedings "could lead to a complete suspension of gift card use across all Homeplus stores, its online mall and affiliated partners," adding that "fraudulent sales at below-market prices and scams exploiting such transactions could also surge sharply."

Karrot also introduced consumer protection measures starting July 3. When a chat session is opened for a Homeplus gift card transaction, the platform automatically notifies the user of the court's decision to halt rehabilitation proceedings and sends a caution message urging careful consideration. A site-wide notice has also been posted asking all users to verify whether gift cards can still be used and to check refund terms before proceeding.

Bunjang has restricted Homeplus gift card trades since last March, when the retailer filed for court receivership. The platform has not introduced additional measures following the court's latest ruling to terminate proceedings, but it has maintained its existing strict restrictions. Keyword searches for "Homeplus" on the platform are currently blocked.

Card companies have also taken steps to protect customers, though some measures were rolled back after Homeplus pushed back. Samsung Card has resumed normal payment processing after chargebacks stabilized. Hyundai Card is also processing payments normally but has ended its points partnership service as a consumer protection measure.

The Seoul Bankruptcy Court ruled July 3 to terminate Homeplus's corporate rehabilitation proceedings. If Homeplus secures funding and files an immediate appeal by July 20, the court may reverse the termination ruling. Filing the appeal requires the company to raise 200 billion won ($131 million). If no appeal is filed, the termination becomes final and the company will proceed toward bankruptcy..

A union notice is posted outside a Homeplus store in Seoul. [Yonhap]
A union notice is posted outside a Homeplus store in Seoul. [Yonhap]

korean@heraldcorp.com