Homeplus: how its people are moving

Banseog note · Oct 24, 2026

Homeplus — A company cut in half awaits a new owner

Where it stands now

Sale during rehabilitation — shedding stores and divisions while seeking a buyer

Since entering corporate rehabilitation in March 2025, its hypermarkets have fallen from 126 to 67. On July 3, 2026 the court decided to terminate the rehabilitation, but an immediate appeal filed after securing KRW 200 billion of emergency operating funds (DIP) from Meritz was accepted, and the rehabilitation plan was approved on September 2.

On Korea's National Pension Service public workplace data, 9,121 people were on the pension register in August 2026, 9,009 fewer (−49.7%) than in October 2025. The main causes are the closure of 37 stores by June and the move that month of about 2,500 Express employees to an NS Home Shopping subsidiary. The company says nearly half of the remaining staff are on paid leave.

The 67 stores reopened on August 13, but early-October sales were reported at only about 30% of target. The cause cited is that credit terms with suppliers have not yet been restored.

Three decisions within a year

1. Whole-company sale: with Samil PwC as lead adviser, it is pursuing a sale of the entire company and its store assets, with letters of intent due by October 31, 2026. As of mid-October coverage, no active bidder had emerged.
2. Business separation: it sold its supermarket division Express (286 stores, including 66 franchise stores) to NS Home Shopping for about KRW 120 billion (contract 2026-05-08, payment completed in June).
3. Staffing: on October 7, 2026 it began voluntary retirement for headquarters and stores. Even with no separate severance bonus, about 400 people applied within eight days, and it closed early on the 14th. The CEO's position is that the current problems will be resolved only once the M&A is complete.

Three people it will look for

1. Restructuring and M&A practice (finance, legal, accounting) — responding to buyer due diligence and carrying out the rehabilitation plan
2. Merchandise sourcing and supplier management MDs — restoring supplier credit terms is the condition for sales recovery
3. Store operations managers — 67 stores must be run with fewer people

For HR

Right now, holding on to the remaining core store managers, MDs and finance staff comes before hiring many new people. Since the organization will change again once a buyer is decided, it is best to organize key people by function and handover materials in advance.

For job seekers

Finance, legal and store operations experience from a rehabilitation or sale is very valuable, but if you join before a buyer is decided, it is safer to check compensation and employment terms carefully in writing.

A reading written from public sources. Sources: Termination of rehabilitation and acceptance of the immediate appeal (2026-07-03, 07-21), resumption of business (2026-08-13), approval of the rehabilitation plan (2026-09-02), Express sale contract and completion (2026-05-08, 06-23), closure of 37 stores (2026-06-05 coverage), voluntary retirement (2026-10-07 to 10-14), sales and sale status (2026-10-15, 10-16), coverage of National Pension Service register figures (2026-10-12). Team size is from Korea's pension register.