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National Assembly Political Affairs Committee to Question 'Homeplus Incident' Next Week... Targeting MBK

Agreement Reached Between Ruling and Opposition Secretaries...
Political Affairs Committee Plenary Session Set for the 18th
Authorities and MBK Officials to Be Summoned for Status and Response Discussion
Questions on Sambutogeon Also Expected... Differences Remain Between Parties

National Assembly Political Affairs Committee to Question 'Homeplus Incident' Next Week... Targeting MBK A view of a Homeplus store in Seoul. Photo by Yonhap News

The National Assembly's Political Affairs Committee will hold a plenary session next week to conduct a current issue inquiry into the 'Homeplus incident.' Executives from MBK, the largest shareholder of Homeplus, will also be summoned to hold them accountable for management failures. Although political uncertainty has increased due to the cancellation of President Yoon Seok-yeol's detention, the committee plans to prioritize addressing livelihood issues.


A Democratic Party official from the Political Affairs Committee said in a phone interview on the 10th, "By agreement between the ruling and opposition party secretaries, a plenary session will be held on the morning of the 18th to conduct a current issue inquiry related to Homeplus," adding, "The witnesses and specific agenda items are still under discussion."


As Homeplus, the second-largest domestic large-scale retailer, has filed for corporate rehabilitation proceedings, concerns over damages to partner companies and retail sales financial bond investors are growing, so a focused review of these issues is expected.


The Political Affairs Committee plans to summon Financial Services Commission Chairman Kim Byung-hwan, Financial Supervisory Service Governor Lee Bok-hyun, Fair Trade Commission Chairman Han Ki-jung, and MBK officials to confirm the status of damages and the preparation of countermeasures.


The Democratic Party is responding to this issue by forming a 'Homeplus Task Force (TF)' centered on the Euljiro Committee. The day before, they held an emergency meeting with labor unions and store owners to discuss issues such as ▲large-scale store closures ▲worker employment insecurity ▲threats to franchise owners' livelihoods.


The Democratic Party is also investigating the possibility of MBK's breach of trust related to the Homeplus incident. Another Democratic Party official from the Political Affairs Committee said, "There are many intertwined issues such as Homeplus's credit rating downgrade and commercial paper (CP) sales," adding, "Based on similar cases, it is judged that raising issues such as breach of trust is possible."


However, it is known that ruling and opposition party members of the Political Affairs Committee have some disagreements regarding agenda items related to Sambutogeon. Democratic Party members plan to question Sambutogeon-related matters during the plenary session, but the ruling party is cautious.


Democratic Party members Kang Jun-hyun, Lee Jung-moon, and Min Byung-duk, who belong to the Political Affairs Committee, visited the Financial Supervisory Service in protest on the same day, urging a swift investigation into the Sambutogeon stock manipulation case involving First Lady Kim Geon-hee. Initially, they planned to directly convey their protest to Financial Supervisory Service Governor Lee Bok-hyun, but he was absent and they could not meet him.


Member Min Byung-duk pointed out, "I really question what the Financial Supervisory Service, which lacks compulsory investigative authority, has been doing while dragging this important case on for so long," adding, "I suspect they are stalling and wasting time on the case."


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