Michael Byungju Kim Pledges $134 Million to Save Homeplus

With the threat of bankruptcy looming by the end of the week, MBK Partners Chairman Michael Byungju Kim has staked 200 billion won—approximately $134 million—of his own capital to stabilize the supermarket chain Homeplus, provided that lender Meritz Financial Group agrees to a new financing arrangement.

Editorial·July 15, 2026·reads: 211

Michael Byungju Kim Pledges $134 Million to Save Homeplus

The survival of South Korea’s second-largest retailer now rests on a critical board vote at Meritz Financial Group. If the lender rejects the proposal, the company faces immediate insolvency proceedings. A successful deal would allow Homeplus to navigate a path toward rehabilitation, preserving the jobs of its 25,000 employees.

The pressure on stakeholders is mounting as the retailer faces intense scrutiny from the Democratic Party. With a parliamentary hearing set for July 27, the window for a private resolution is narrowing, forcing lenders to weigh the financial risks against the potential collapse of a major national employer.