Government Confirms 33.3 Billion Won in Unpaid Wages at Homeplus for June, Pledges Swift Support

The government has confirmed that Homeplus failed to pay 33.3 billion won in wages last month and has decided to provide swift support through government-backed wage payments for affected employees.

Lee Hyung-il, First Vice Minister of Economy and Finance, held a task force (TF) meeting with relevant agencies at the Government Complex Sejong today (July 10) to assess the damage caused by the Homeplus situation and review the progress of support measures.

The TF's comprehensive investigation revealed that the total amount of unpaid wages at Homeplus for June reached 33.3 billion won.

The government has decided to expedite the payment of government-backed wage arrears, providing up to 21 million won per affected employee.

To ensure emergency livelihood stability, the government will also provide low-interest livelihood loans at an annual rate of 1.5 percent, with a limit of 10 million won per person.

Financial support for small and medium-sized partner companies and small business owners will also be strengthened.

Applications for preferential interest rates and increased loan limits for emergency business stabilization funds for small business owners will open on July 15.

The Korea Credit Guarantee Fund added affected small and medium-sized enterprises to its special crisis response guarantee program last month, and the banking sector has also agreed to participate in easing liquidity shortages by offering additional repayment deferrals and maturity extensions for loans to Homeplus partner companies.
※ Please note: This article was translated by AI and may contain errors.