world
Government Reviews Support Measures for Homeplus Workers After Court Ends Rehabilitation
Officials examined progress on wage support and loan programs for workers and subcontractors of the supermarket chain. The review followed a court decision to terminate rehabilitation proceedings for the retailer.
Jul 10, 2:50 AM·1m read1 source
YonhapAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
The government reviewed progress on support measures for workers and subcontractors of the supermarket chain Homeplus Co. after a court terminated its rehabilitation proceedings, the finance ministry said Friday. First Vice Finance Minister Lee Hyoung-il chaired a task force meeting to assess implementation of the measures.
The government had pledged last week to provide up to 21 million won in substitute payments for unpaid wages. The labor ministry received 692 inquiries and provided information on available support programs, the government said. The task force identified 33.3 billion won in unpaid wages for June and said it would monitor any further delays.
Last week the government offered low-interest loans of up to 10 million won at a 1.5 percent rate within the amount of unpaid salaries. Participants at the meeting said they would continue monitoring effects on workers and business partners and would develop additional measures if needed.
The Seoul Bankruptcy Court ended the rehabilitation proceedings for Homeplus, a retailer wholly owned by private equity firm MBK Partners, after the chain entered court-led debt restructuring in March last year.
