Homeplus Enters Temporary Closure of Large-Scale Stores Due to Cash Flow Depletion... Starting on the 13th

Homeplus announced it will temporarily close its headquarters and large-scale store locations starting on the 13th due to cash flow depletion and difficulties maintaining and managing facilities. However, mall operations will continue normally if tenants request. The Seoul Bankruptcy Court decided to terminate Homeplus's rehabilitation process but stated it may reconsider extending the procedure if a 2000 billion won emergency funding plan is submitted by the 20th. Homeplus has requested a 2000 billion won loan from Meritz but the request remains pending.