[Exclusive] Lotte and BC Card Suspend Homeplus Gift Card Payments..."All Major Card Companies Blocked"

Lotte Card and BC Card
Suspend Payment Approvals for Homeplus Gift Certificate Purchases and Recharges
All Eight Full-Service Card Companies Halt Transactions

Lotte Card and BC Card confirmed on the 13th that they will stop accepting payments for Homeplus gift certificates. With this, all eight full-service card companies (Shinhan, Hyundai, Samsung, KB Kookmin, Lotte, Woori, Hana, and BC Card) have ceased transactions involving Homeplus gift certificates.

On the same day, a Lotte Card official stated, "Lotte Card plans to suspend card payments for Homeplus gift certificates within the day." A BC Card representative also said, "Our company intends to stop card payments for Homeplus gift certificates within the day."

Earlier that morning, six companies (Shinhan, Hyundai, Samsung, KB Kookmin, Woori, and Hana) had already halted payment approvals for purchasing and recharging Homeplus gift certificates.

Accordingly, it is expected that all eight full-service card companies will block card payments for Homeplus gift certificates.

Following Homeplus's filing for corporate rehabilitation, affiliated companies such as Shilla Duty Free, CJ Foodville, and Everland have successively stopped accepting Homeplus gift certificates, fearing delays in repayment.

Although gift certificates are commercial claims and transactions are proceeding normally, there is widespread distrust in the market toward Homeplus's major shareholder, MBK Partners. Concerns about potential defaults are also increasing.

Service providers for Homeplus-affiliated cards, including Shinhan, Samsung, and KB Kookmin Card, have not yet terminated their partnership contracts. However, the renewal of these contracts remains uncertain. Considering repayment trends, the ability to resume operations, and public opinion, if there is a significant risk of a sharp decline in the number of issued cards, they may choose not to renew contracts with Homeplus.