Ruling and opposition parties unite to report MBK chairman for absence at inquiry

2025-03-18

(Chosun Biz, Mar. 18, 2025)

Union of political factions seeks accountability from MBK Partners chairman for missing inquiry session.

The ruling and opposition parties voiced that they should report MBK Partners Chairman Kim Byung-joo. This comes as he did not attend the National Assembly’s urgent inquiry on the Homeplus situation. There have also been calls for a hearing regarding MBK’s corporate rehabilitation process for Homeplus.

According to the National Assembly on the 18th, lawmakers from the National Assembly’s Political Affairs Committee pointed out during the ‘Emergency Inquiry into Homeplus and MBK Partners’ session held in Seoul’s Yeouido that ‘Chairman Kim is disdainful of the National Assembly’ and that ‘he should be reported through a consensus among the committee members.’

Prior to this, on the 11th, the Political Affairs Committee decided to push for an emergency inquiry into the Homeplus and MBK Partners situation during a full committee meeting and selected Chairman Kim as a witness. However, Chairman Kim submitted a notice of absence to the committee on the 14th, citing an overseas business trip.

Democratic Party lawmaker Kang Hoon-sik said, ‘I called him on the 11th, but he scheduled for the 13th,’ adding that ‘there are many victims despite being called a local private equity fund, and his attitude of being accountable is lacking.’ People Power Party lawmaker Yoo Young-ha stated, ‘We should take action to report him through consensus between the ruling and opposition parties.’

Democratic Party lawmaker Park Sang-hyun noted, ‘From Chairman Kim’s notice of absence, he stated that he would submit his testimony in writing later,’ and added, ‘It is arrogant to be absent and still insist on submitting it in writing.’ He went on to say, ‘We also need to hold a hearing.’

Meanwhile, Homeplus filed for corporate rehabilitation procedures with the court on the 4th. Politicians have raised suspicions that MBK Partners, the major shareholder of Homeplus, issued short-term bonds such as commercial paper (CP) right before applying for the corporate rehabilitation procedure, shifting losses onto investors.

※ Please refer to the article: Ruling and opposition parties unite to report MBK chairman for absence at inquiry – CHOSUNBIZ

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