Homeplus "Gift Cards Used Normally In Stores... Partners React Sensitively"

"Gift Certificates Will Be Fully Redeemed
We Will Address Any Concerns"

Homeplus announced on the 6th that Homeplus gift certificates can be used normally without any issues at Homeplus stores.

This official statement from Homeplus comes after cases of refusal to accept Homeplus gift certificates have recently occurred mainly among some affiliated companies. Currently, HDC I'Park Mall, Oak Valley, HDC Shilla Duty Free Store, Samsung C&T Fashion Division dealerships, CJ Group-affiliated movie theater CGV, and franchises operated by CJ Foodville (Tous Les Jours, VIPS, The Place), Shilla Duty Free Store, Everland, and Ambassador Hotel are blocking gift certificate payments.

Homeplus explained, "Gift certificates are general commercial claims that are 100% redeemable," adding, "Franchisees are reacting excessively sensitively by associating this with last year's unsettled payments issue in the e-commerce industry."

Homeplus stated that it has minimized the issuance of gift certificates so far, and the current unused balance is at the level of 40 to 50 billion KRW. The company explained that more than 96% of this is used at Homeplus stores. Furthermore, the company maintains that gift certificates are general commercial claims and have nothing to do with the financial claim repayment deferral measures under corporate rehabilitation procedures.

Homeplus said, "We will resolve unnecessary concerns through sufficient communication regarding the approximately 4% of gift certificates used at other affiliated companies."