Tenants of the Homeplus Seongeo branch hold a press conference in front of the Sanggyeok annex of Daegu City Hall on Friday, demanding guaranteed continued operations. [Yonhap]
Tenants of the Homeplus Seongeo branch hold a press conference in front of the Sanggyeok annex of Daegu City Hall on Friday, demanding guaranteed continued operations. [Yonhap]

The government has reviewed the implementation of wage arrears responses and financial support measures aimed at minimizing damage to workers and suppliers following a court decision to terminate Homeplus's rehabilitation proceedings.

The Ministry of Economy and Finance said Friday that First Vice Minister Lee Hyeong-il chaired an interagency task force meeting at the Government Sejong Building to assess progress on the "Homeplus Worker and Supplier Support Plan" announced July 3. The Ministry of Employment and Labor, the Ministry of SMEs and Startups, the Ministry of Trade, Industry and Energy, the Office for Government Policy Coordination, the Financial Services Commission and the Financial Supervisory Service all attended.

According to the government, 692 consultations were received between July 3 and Thursday through the Ministry of Employment and Labor's one-stop counseling window and designated case managers at regional employment and labor offices, with workers guided through available support programs.

The government plans to conduct a comprehensive investigation through the dedicated task force to quickly determine whether June wages totaling 33.3 billion won ($22.7 million) have gone unpaid, and to closely monitor whether additional arrears arise.

Workers affected by unpaid wages are eligible to receive up to 21 million won per person in advance payments covering overdue wages and related entitlements, and the government said it will ensure prompt disbursement. Workers facing urgent financial hardship may also apply for living expense loans of up to 10 million won per person at a low annual interest rate of 1.5 percent.

Support for suppliers is also being expanded. A total of 45 business difficulty consultations were handled through the Small Enterprise and Market Service's one-stop counseling window between July 3 and Wednesday. Homeplus suppliers will receive preferential interest rates on emergency business stabilization funds, and support ceilings will be raised.

In addition, the Korea Credit Guarantee Fund has added small and midsize companies directly or indirectly harmed by the termination of Homeplus's rehabilitation proceedings to the list of beneficiaries eligible for its crisis-response special guarantee program. Banks have also agreed to continue financial support for supplier loans, including additional repayment deferrals and maturity extensions. Suppliers requiring new financing will be offered emergency operating loans of up to 500 million won per company, along with preferential interest rates.

The government said it will continue to monitor the situation facing Homeplus workers and suppliers and will actively explore additional support measures if needed.


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