Government Provides Total of 77.8 Billion Won in Unemployment Benefits and Loans to Homeplus Workers

▲ Homeplus

The government held the "Homeplus-related Task Force (TF) Meeting" chaired by Kang Giyong, Assistant Minister for Economic Policy at the Ministry of Finance and Economy, at the Seoul Government Complex on the 14th to inspect the implementation status of support measures for affected workers and partner companies.

From March 4 of last year, the date the court commenced rehabilitation procedures for Homeplus, to the 12th of this month, a total of 24,648 cases of unemployment benefits and government-paid substitute wages amounting to 35.9 billion won have been provided to workers.

Loans, including living expense loans for unpaid wages and livelihood stabilization funds, totaled 9,091 cases amounting to 41.9 billion won.

For partner companies, 277 cases of emergency management stabilization funds totaling 11.6 billion won were supplied through the Small Enterprise and Market Service (SEMAS) and the Korea SMEs and Startups Agency (KOSME).

The banking sector provided 8,167 cases of maturity extensions and repayment grace periods amounting to 5.4 trillion won, along with 121 cases of new emergency loans totaling 30.9 billion won, to partner companies by the 7th of this month, according to the government.

In addition, through the Korea Credit Guarantee Fund's crisis-response special guarantees and the Korea Technology Finance Corporation's emergency management stabilization guarantees, 70 cases totaling 48.4 billion won were provided to partner companies from the 3rd of last month to the 12th of this month.

Homeplus utilized 200 billion won in emergency operating funds secured from Meritz Financial Group on the 5th to pay overdue wages and prepare for business operations, opening temporarily on the 7th and officially resuming operations at 67 stores starting the day before.

A government official stated, "While continuously monitoring Homeplus's business trends, we will continue to provide sufficient support to stabilize the livelihoods and management of workers and partner companies."

※