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Finance

Meritz Financial considers 100 billion won support for Homeplus, subject to MBK and Kim Byung-joo guarantees

Meritz Financial Group is considering providing 100 billion won in emergency operating funds to help normalise management at Homeplus. The group said on June 11 it is reviewing DIP financing to support stable business operations. Meritz Securities said it is checking specific guarantee terms after meeting several Democratic Party lawmakers. Meritz said guarantees from MBK headquarters and MBK Chairman Kim Byung-joo are needed given legal constraints under recently revised commercial law.

Industry

Homeplus to suspend operations at 37 stores from May 10 as survival hinges on restructuring plan approval

Homeplus, which is undergoing corporate rehabilitation proceedings, is launching a second round of restructuring by temporarily suspending operations at 37 low-contribution hypermarket stores from May 10 to July 3. It signed a sale contract for its Homeplus Express business with NS Shopping, but said the sale alone is insufficient to secure operating funds and normalise remaining units. Homeplus urged its largest creditor, Meritz Financial Group, to provide bridge and DIP loans.

Finance

Stablecoin race for control spreads, KOSPI nears 7,000

Competition over global payment infrastructure centered on stablecoins is spreading across the financial industry. Hana Financial Group is moving to cooperate on blockchain-based remittances with Dunamu and POSCO International, while Visa is expanding its stablecoin pilot and adding five more blockchains. U.S. banks are calling for stronger in-house blockchain strategies, and Shinhan Card is expanding a Solana-linked proof-of-concept. Markets also remain strong, with the KOSPI holding above 6,600 and repeatedly hitting record highs.