MBK chairman apologizes for Homeplus fiasco during first appearance at Assembly audit

(Korea Times, Oct. 14, 2025)

 

Michael ByungJu Kim, chairman of MBK Partners, which owns Homeplus, answers lawmakers’ questions during his appearance at a National Assembly audit in Seoul, Tuesday. This marked his first appearance before an Assembly audit, as he had repeatedly skipped previous requests, citing overseas travel schedules. Korea Times photo by Jeong Da-bin

Michael ByungJu Kim, chairman of MBK Partners, Homeplus’ largest shareholder, made his first appearance at a National Assembly audit Tuesday, offering a public apology for the corporate rehabilitation case of the country’s second-largest supermarket chain.

“We regret causing concern to the public,” he said during an audit by the Assembly’s National Policy Committee. “We are committed to fulfilling our social responsibility toward Homeplus employees and stakeholders.”

Homeplus, which filed for corporate rehabilitation in March amid a liquidity crunch, has been unable to secure a new owner for more than seven months.

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