Homeplus Wage Arrears in June Reach 33.3 Billion Won; Up to 21 Million Won in Wage Subrogation Payments per Worker

[Financial News] The government said it had confirmed 33.3 billion won in unpaid June wages after conducting a full survey of damage suffered by Homeplus workers and partner companies.
On the 10th, Lee Hyoung-il, first vice minister of the Ministry of Economy and Finance, held a meeting of the Homeplus-related task force at the Government Complex Sejong. The meeting reviewed the damage suffered by Homeplus workers and partner companies, as well as the implementation of support measures for them.
Since the court ended the rehabilitation proceedings, a total of 692 consultations have been received through the Ministry of Employment and Labor's one-stop counseling desk and dedicated staff at regional labor offices and branch offices. Guidance on available support measures was provided.
In particular, the government quickly carried out a full survey through the dedicated task force to check wage arrears and confirmed 33.3 billion won in unpaid June wages. It plans to closely monitor whether additional arrears occur.
Workers affected by unpaid wages can receive wage subrogation payments of up to 21 million won per person. The government said it will work to ensure that the payments are made quickly. If affected workers need urgent living support, they can also receive low-interest livelihood loans at 1.5 percent a year, within the amount of unpaid wages and up to 10 million won per person.
Support for partner companies was also provided quickly. Through the one-stop counseling desk at the Small Enterprise and Market Service, a total of 45 consultations were conducted on management difficulties. In addition, emergency management stabilization funds are being offered to small businesses after the start of the rehabilitation proceedings, and preferential interest rates and higher lending limits will be applied to Homeplus partner companies.
The Korea Credit Guarantee Fund added small and mid-sized companies that suffered direct or indirect damage from the termination of the rehabilitation proceedings to the list of recipients eligible for its special crisis-response guarantees. At a separate meeting with the financial sector, banks also agreed to continue financial support for loans to Homeplus partner companies, including additional repayment deferrals and maturity extensions. They will also provide emergency working capital loans of up to 500 million won per partner company that needs new funding, along with preferential interest rates.
Participants agreed to continue closely monitoring the damage suffered by Homeplus workers and partner companies, while actively seeking additional support measures if needed.

syj@fnnews.com Seo Young-joon Reporter