LG Electronics and Lotte Chilsung Resume Homeplus Supplies..."Repayment of 378 Billion KRW Trade Receivables"

Delivery Agreements with Major Partners Enter Final Stages

After Homeplus initiated corporate rehabilitation proceedings, LG Electronics and Lotte Chilsung Beverage, which had temporarily suspended deliveries, have resumed product supply.

A delivery vehicle is parked at a Homeplus store in Seoul. Photo by Yonhap News.

Homeplus announced on the 19th that LG Electronics and Lotte Chilsung Beverage have resumed deliveries. Previously, these two companies had stopped deliveries from the 6th after Homeplus entered corporate rehabilitation proceedings on the 4th of this month. Homeplus stated, "With the completion of delivery agreements with LG Electronics and Lotte Chilsung Beverage, agreements with major partners are now entering the final stages."

As of the morning of the same day, Homeplus had paid 378 billion KRW in trade receivables, including partner delivery payments and tenant settlement funds. This is an increase of 10.4 billion KRW from 367.6 billion KRW the previous morning.

A Homeplus official said, "Except for large corporations and some brand store owners, delayed payments to almost all tenants have been completed, and operations are currently normal," adding, "To prevent misunderstandings during the settlement process, please use company POS devices instead of personal POS devices." The official also added, "We are reviewing measures to alleviate concerns among tenants who worry about possible future payment delays."