SEOUL, March 5 (Korea Bizwire) — In a move that has sent shockwaves through South Korea’s retail industry, Homeplus, one of the country’s largest retail chains, filed for court receivership on March 4, citing concerns over potential liquidity issues that could affect vendor payments as early as May. The bankruptcy filing has drawn criticism from industry [...]
SEOUL, March 4 (Korea Bizwire) — Homeplus Co., a discount store chain in South Korea, said Tuesday it has filed for corporate rehabilitation with a Seoul court after its credit rating declined amid liquidity worries. Homeplus filed for the court-led rehabilitation program with the Seoul Bankruptcy Court after its corporate credit rating plunged last week. [...]
SEOUL, Jul. 18 (Korea Bizwire) – Homeplus, a major South Korean retailer, has announced the closure of two stores, sparking protests from its labor union over what it sees as a broader trend of store closures and asset liquidation. According to industry sources on July 17, Homeplus informed employees through its internal network that it would [...]
SEOUL, Jun. 19 (Korea Bizwire) – As the banner announcing a “50-80% Clearance Sale” hung over the H Optical shop at the Homeplus store in Anyang, the mood among the tenants was a mix of anger and resignation. In late April, these small business owners, operating rental shops within the Homeplus outlet, received abrupt notice to [...]
SEOUL, Jun. 3 (Korea Bizwire) — Private equity firm MBK Partners is set to sell the supermarket business unit of Homeplus Co., a discount store chain in South Korea, according to financial sources on Monday. MBK Partners, which owns 100 percent of Homeplus, has put Homeplus Express up for sale, appointing Morgan Stanley to manage [...]
SEOUL, Dec. 13 (Korea Bizwire) – The retail industry, traditionally centered on price and product competition, is now grappling with intense rivalry by adopting innovative approaches to store differentiation. In particular, there is a rising trend among consumers towards specialized stores that concentrate on a specific product category, acting as a catalyst for increased sales. A [...]
SEOUL, March 16 (Korea Bizwire) – The legal battle between two major South Korean companies, Nongshim Group and Homeplus, has intensified over the use of the trademark ‘Mega’. Mega Mart, a supermarket chain owned by Nongshim, filed a lawsuit on March 2 against Homeplus, accusing the comany of trademark infringement for its newly introduced hypermarket [...]
SEOUL, March 2 (Korea Bizwire) — South Korean hypermarket chain operator Homeplus Co. said Monday that it will set up a mobility service platform that will enable customers to buy and sell cars and motorcycles at its outlets. The company said that based on the fact that most of its customers use their own cars [...]
SEOUL, Nov. 18 (Korea Bizwire) — A retail company is engaging with so-called ‘manias’ as part of its marketing strategy, as they are rising as new major consumers capable of offering useful advice for product development. Homeplus Co., a South Korean hypermarket chain operator, plans to hold a ‘Club Week’ until November 27, during which [...]
SEOUL, Dec. 17 (Korea Bizwire) — Supermarket chain HomePlus Co. said on December 16 that 27 ‘Maekmmelier’ had been chosen via ‘The First Maekmmelier Contest’ in which participants measured their beer mania skills with others. Maekmmelier is a combination of ‘maekju’, the Korean word for beer, and ‘sommelier,’ and refers to one whose beer mania [...]