Park Sang-jin, Chairman of Korea Development Bank, has refused a support request by MBK Partners for urgent operational funding for Homeplus, stating that they have no involvement with the company.
On October 25, during a press conference at the Korea Development Bank headquarters in Yeouido, Seoul, Chairman Park Sang-jin clarified the bank's stance on the urgent operational funding request from MBK Partners for Homeplus. He indicated that their involvement is complicated due to the existing structure of funding within the retail sector. Park articulated that Homeplus is undergoing significant restructuring and should be careful not to mismanage its finances, expressing sympathy for the company's challenges but emphasizing the bank's inability to intervene directly.
MBK Partners, the major stakeholder of Homeplus, had submitted a management improvement plan to the court, proposing that Korea Development Bank, along with Meritz Financial Group, each contribute 10 billion KRW for a total of 30 billion KRW in support. However, Park pointed out that without legal grounds as they are not part of Homeplus's creditor group, there was insufficient justification for the bank to provide financial aid, reinforcing the need for Homeplus to seek sustainable strategies independently.
In related discussions, Park highlighted HMM, the country's only national shipping company, prioritizing the transfer of its operations to Busan over discussions on its potential sale. He stressed the importance of ensuring its functionality as a national carrier rather than focusing on sale price, aiming to make sound decisions with relevant agencies to promote industrial policy. Meanwhile, he acknowledged delays in the scrutiny of the National Growth Fund, anticipating the approval of various projects soon, which underscores the bank’s commitment to supporting national economic initiatives.
