The Korea Times

Homeplus faces fresh funding needs on road to recovery

Homeplus still faces additional financing needs to service its massive debt obligations and sustain its long-term rehabilitation after resuming normal operations last week with a 200 billion won ($143 million) emergency credit line, industry officials said Thursday. According to the company’s second revised rehabilitation plan, the retailer, which was pushed to the brink of bankruptcy, plans to raise a total of 1.42 trillion won by selling about 20 company-owned stores by 2028. However, even liquidating a large portion of its store portfolio will not be enough to cover its funding needs throughout the rehabilitation period. The firm faces a key test in February 2030, when 812 billion won in administrative claims will come due, including 398 billion won in supplier payments and 100 billion won in unpaid rent. Homeplus plans to cover the shortfall by taking out 592 billion won in new loans collateralized by its remaining property assets. To secure bank financing, Homeplus must engineer a dramatic financial turnaround. The company projects an operating loss of 10.3 billion won on revenue

Aug 20, 2026By Jun Ji-hye

Homeplus faces fresh funding needs on road to recovery

Banking & Finance

Brokerages bulk up on strong earnings, face test over capital efficiency

Korean brokerages are rapidly expanding their capital bases on the back of a robust stock market rally, though the rapid scale-up is fueling concerns over declining profitability and greater exposure to volatile markets, industry officials said Thursday. Korea Investment & Securities saw its equity capital jump 18.2 percent to 13.19 trillion won ($9.46 billion) in June, up from 11.16 trillion won last December, driven by strong earnings and proactive capital raises to fund new ventures. Medium-sized firms also posted steep growth. KB Securities saw its equity capital jump 19.2 percent from 6.69 trillion won to 7.98 trillion won, recording the highest growth rate among the top eight brokerages. Peers including Kiwoom, Meritz, Hana and Samsung also posted solid gains. The capital expansion comes as brokerages benefit from a broader rally in the benchmark KOSPI and the diversification of revenue streams beyond retail stock trading. “Brokerage earnings have recently improved on the back of simultaneous growth in investment banking, wealth management and trading services,” Ahn Young-joon,

Aug 20, 2026By Jun Ji-hye

Brokerages bulk up on strong earnings, face test over capital efficiency

Others

Korea eyes energy for 1st project under $350 bil. US investment plan: finance minister

The energy sector is being considered for Korea's first project under its $350 billion investment commitment to the United States, Finance Minister Koo Yun-cheol said Wednesday. Speaking at a luncheon hosted by the American Chamber of Commerce in Korea (AMCHAM), Koo said the launch of the Korea-U.S. Strategic Investment Corp. (KUIC) in June provided the institutional framework needed to put the investment plan into action. He called for companies from the two countries to work together to identify commercially viable projects that would benefit both sides. “Energy appears to be one of the areas attracting significant interest,” Koo said, noting that securing sufficient and affordable energy would be critical as power demand grows with the expansion of artificial intelligence (AI). “Combining Korea’s engineering expertise with U.S. knowhow could create mutually beneficial opportunities,” Koo added. Regarding complaints from the U.S. Department of Commerce over the delayed selection of the first investment project, Koo stressed that “there is absolutely no intention to delibera

Aug 19, 2026By Jun Ji-hye

Korea eyes energy for 1st project under $350 bil. US investment plan: finance minister

Politics

Will ruling party revise real estate tax plan under new leadership?

Eyes are on whether the ruling Democratic Party of Korea (DPK), under new leader Kim Min-seok, will seek changes to the government’s real estate tax overhaul plan announced early this month, amid growing concerns over higher tax burdens and housing insecurity, according to political observers, Wednesday. Kim, the former prime minister, has already voiced opposition to a proposed tax increase for single-home owners who do not live in their properties, a measure that has drawn considerable public backlash. The new party leadership is expected to begin discussions with the government on possible revisions soon. “The first high-level meeting between the ruling party and the government under the new leadership will be held at 11 a.m. on Aug. 23, with major policy issues expected to be discussed,” senior party spokesperson Rep. Park Sung-joon told reporters. The government’s proposals would raise the tax burden on owners of expensive homes who do not reside in them, as well as on people who own multiple properties. In particular, the plan would lower the basic deduction for nonresident

Aug 19, 2026By Jun Ji-hye

Will ruling party revise real estate tax plan under new leadership?

Banking & Finance

Banks grow frustrated as regulator leaves exception decisions to lenders

Confusion and frustration are growing across the banking sector after financial authorities left banks to determine when to grant exceptions in some loan reviews under the latest comprehensive real estate finance measures, industry officials said Tuesday. The Financial Services Commission (FSC) said the approach is designed to allow lenders to take borrowers’ individual circumstances into account. Banks, however, argue that the policy effectively shifts the burden of making such judgments onto them. They also fear that concerns over accountability for flawed assessments could prompt lenders to tighten their standards further. Under the package unveiled on Thursday, the FSC, the country’s top financial regulator, said "jeonse" loan guarantees would be restricted for one-home owners in the Seoul metropolitan area and other regulated zones, affecting homeowners who rent out properties they or their spouses have not personally occupied. Such cases will be classified as speculative investments. Jeonse is a unique Korean housing rental system in which tenants pay a large upfront deposit i

Aug 18, 2026By Jun Ji-hye

Banks grow frustrated as regulator leaves exception decisions to lenders

Others

Retail investors return to gold market as prices rebound

Individual investors in Korea are returning to the gold market after selling for three consecutive months, as prices have rebounded from a steep correction following their record highs. According to the Korea Exchange (KRX) on Tuesday, individuals net bought 133 billion won ($94 million) worth of gold on the KRX Gold Market between Aug. 1 and last Friday. The buying turnaround contrasts sharply with the selling trend that persisted through last month. Retail investors offloaded about 524 billion won worth of gold from May through July, including 125 billion won in May, 348 billion won in June and 51 billion won in July, before reversing course in August. Over the same period, individual investors also stepped up their purchases of gold-related exchange-traded funds (ETFs). Investors are piling back into gold following a swift rally in international prices after a prolonged decline, driven by cooling U.S. inflation data and renewed expectations for Federal Reserve policy easing. Gold futures on the New York Mercantile Exchange hit a record closing high of $5,354.80 per ounce on Jan. 29 bef

Aug 18, 2026By Jun Ji-hye

Retail investors return to gold market as prices rebound

Others

How will government fine-tune controversial tax reform measures?

Korea is reviewing potential adjustments to the tax reform package unveiled on Aug. 3 following mounting public controversy and feedback, particularly regarding individual savings accounts (ISAs) that have drawn strong criticism from investors, according to government insiders Monday. For real estate taxes, however, the government is likely to stick to the core elements of its proposal, including the deduction structure and tax rates. Further adjustments, including the cap on comprehensive real estate tax increases, are expected to be addressed through parliamentary deliberations. The government plans to gather public input through Thursday before holding discussions at a Cabinet meeting, aiming to submit a final bill to the National Assembly early next month. The focus of the revisions centers on ISAs, which offer tax exemptions on interest and dividend income and serve as a popular investment vehicle for retail investors looking to build long-term wealth. Under the initial proposal, the government introduced a new “productive finance ISA” scheme while scrapping the annual contribut

Aug 17, 2026By Jun Ji-hye

How will government fine-tune controversial tax reform measures?

Cryptocurrency

Korea's crypto regulation at crossroads as rules tighten, tax delay proposed

Korea’s cryptocurrency regulatory framework is reaching a crossroads, with rules tightening on one front while efforts are underway to delay taxation on investment gains. Financial authorities plan to expand the “travel rule” for crypto transactions to cover all transfers, requiring exchanges to collect and provide transaction information, while also tightening registration and screening requirements for virtual asset service providers. Meanwhile, a bill has been proposed to postpone the planned taxation of crypto investment gains by three years, reigniting debate over when such taxes should take effect. According to the Financial Services Commission, the country’s financial regulator, an amendment approved Tuesday by the Cabinet will extend the travel rule to all crypto transfers, including those below 1 million won ($705). Under current rules, exchanges are required to share transaction information only for transfers worth at least 1 million won. The change removes the threshold to prevent users from splitting transactions into smaller amounts to evade the rule. The revised rule

Aug 13, 2026By Jun Ji-hye

Korea's crypto regulation at crossroads as rules tighten, tax delay proposed

Companies

Homeplus enters crucial test for turnaround as 67 stores reopen

Homeplus resumed normal operations at 67 stores on Thursday following a temporary shutdown brought on by the risk of liquidation, with its performance over the next three weeks likely to be critical to its survival, according to industry officials. The Seoul Bankruptcy Court has scheduled a creditors’ meeting for Sept. 2 to review and vote on the retailer’s revised rehabilitation plan, two days before the Sept. 4 deadline for the court to approve the plan. Homeplus submitted its second revised rehabilitation plan to the court, Wednesday, with the upcoming creditors’ meeting expected to be a decisive turning point for the company. Failure to secure approval for the plan could lead to the termination of the court-supervised rehabilitation process. The court would then determine whether Homeplus has a viable path forward before considering bankruptcy proceedings. The reopening of the 67 stores comes about a month after they were temporarily closed as the company struggled to pay suppliers and landlords amid a shortage of operating funds. The court initially moved to terminate Homeplus

Aug 13, 2026By Jun Ji-hye

Homeplus enters crucial test for turnaround as 67 stores reopen

Education

Korea Univ.-Kookmin Univ. joint research team wins top vehicle security award

A research team jointly led by Korea University’s Hacking and Countermeasure Research Lab (HCRL) and Kookmin University’s Mobility Cybersecurity Lab has received the Best Artifact Award at USENIX VehicleSec 2026, the universities said Wednesday. The two-day international symposium, regarded as a leading academic forum for vehicle cybersecurity, was held in Baltimore, Maryland, earlier this week. The recognition comes as automakers increasingly adopt advanced and connected technologies, raising concerns over vehicle hacking and increasing demand for artificial intelligence (AI)-powered systems capable of detecting cyberattacks targeting in-vehicle networks. The team was recognized for developing the AutoHack Dataset, a vehicle cybersecurity dataset collected from cars during actual road driving. The dataset is designed to help AI-based security systems distinguish between normal vehicle activity and malicious attacks. The findings were detailed in a paper titled “AutoHack: A Physically Verified Multi-Bus CAN Dataset for Intrusion Detection System Evaluation.” The paper received all

Aug 13, 2026By Jun Ji-hye

Jun Ji-hye

Read more

Homeplus faces fresh funding needs on road to recovery

Brokerages bulk up on strong earnings, face test over capital efficiency

Korea eyes energy for 1st project under $350 bil. US investment plan: finance minister

Will ruling party revise real estate tax plan under new leadership?

Banks grow frustrated as regulator leaves exception decisions to lenders

Retail investors return to gold market as prices rebound

How will government fine-tune controversial tax reform measures?

Korea's crypto regulation at crossroads as rules tighten, tax delay proposed

Homeplus enters crucial test for turnaround as 67 stores reopen

Korea Univ.-Kookmin Univ. joint research team wins top vehicle security award

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