Homeplus finalized the securing of 200 billion won in debtor-in-possession (DIP) funding on the 5th. This comes about three weeks after three Meritz Financial Group affiliates — Meritz Securities, Meritz Capital, and Meritz Fire & Marine Insurance — approved the DIP support on the 16th of last month. With the Seoul Rehabilitation Court approving the DIP loan agreement with Meritz Financial Group on the same day, the 200 billion won is expected to be deposited into Homeplus's account within the 5th.

DIP (debtor-in-possession financing) is funding that supports a company undergoing rehabilitation proceedings to continue its operations. This financing is regarded as a critical turning point, as it establishes a foundation for Homeplus, currently in corporate rehabilitation, to normalize its operations.

■ Soft Opening on the 7th → Official Reopening on the 13th... 67 Stores to Resume Operations

As soon as the funds flow in, Homeplus will swiftly finalize supply negotiations with vendors and delivery companies. A soft opening will take place on the 7th, followed by inspections of product deliveries and store operating conditions through the 12th, ahead of the official reopening on the 13th.

Among the 67 stores resuming operations, eight are located in the Daegu and North Gyeongsang regions: Namdaegu, Seongseo, Suseong, and Chilgok in Daegu, and Gyeongju, Mungyeong, Andong, and Yeongju in North Gyeongsang Province. Some employees have already returned to work starting on the 4th, and on the 5th, dozens of personnel were deployed to prepare for the reopening. According to labor union officials, promotional activities, including flyer distribution, are scheduled for the 13th.

Following the resumption of operations, Homeplus plans to focus on store management centered on fresh foods and groceries while also restarting its e-commerce business. Delivery vehicles and personnel are currently being prepared.

■ From the Brink of Rehabilitation Dismissal Due to MBK–Meritz Disagreement

Initially, Homeplus aimed to secure at least 200 billion won in operating funds, but faced difficulties in raising the capital due to disagreements between its majority shareholder MBK Partners and its largest creditor, Meritz Financial Group. As a result, on the 3rd of last month, the Seoul Rehabilitation Court issued a decision to dismiss the rehabilitation proceedings, forcing the headquarters and all stores to suspend operations.

Subsequently, after Meritz Financial Group agreed to provide the DIP loan and MBK Partners Chairman Kim Byeong-joo agreed to provide a personal guarantee, the court canceled its decision to dismiss the rehabilitation proceedings on the 21st of last month. The deadline for the approval of the rehabilitation plan was also extended to September 4.

■ Remaining Challenge: Four Weeks of Operating Performance Will Determine Rehabilitation Approval

Securing DIP funding alone does not finalize the rehabilitation. Alongside normalizing product supply, Homeplus must also obtain creditor approval for its amended rehabilitation plan. The Seoul Rehabilitation Court plans to schedule a meeting of interested parties for the review and voting of the rehabilitation plan between the end of this month and early next month. The operating performance over the four weeks following the soft opening is expected to be a critical period that will determine whether the rehabilitation plan is approved.