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Homeplus Closes All 67 Remaining Outlets Nationwide in South Korea
The hypermarket chain shut its last stores this week after suspending 37 others earlier in restructuring. A 200 billion won emergency loan approved Thursday provides temporary relief. The closures follow nearly three decades of operation as the country's second-largest chain.
Jul 18, 1:00 AM·1m read1 source
South China Morning PostAudio version
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Homeplus closed all its remaining 67 operating outlets nationwide this week after suspending 37 others earlier as part of its restructuring, South China Morning Post reported. The chain had operated hypermarkets in South Korea for almost three decades until the shutdowns.
A 200 billion won (US$135 million) emergency loan approved on Thursday gave the company a temporary lifeline to challenge a court decision that had pushed it closer to liquidation.
Homeplus still faces questions about unpaid wages, supplier payments and its business status. The sudden closure of South Korea’s second-largest hypermarket chain reflects both its financial distress and a decline of the shopping model it helped popularise, the report said. Nearly 80 per cent of South Koreans shop online according to a 2025 survey by Statista.
A May report by the country’s trade ministry showed that online platforms accounted for more than 60 per cent of total sales of major retailers earlier this year.
