
Jo Joo-yeon, CEO of Homeplus, appeared at a government audit on the 12th and stated that sales growth is limited as only advance payments and cash transactions are currently possible, and that the situation can only be resolved through M&A.
AI-generated summary
Homeplus received 200 billion won in emergency operating funds, but is having difficulty normalizing operations.
“It is difficult to normalize business as planned… This can only be resolved through M&A.”
(Seoul = Yonhap News) Reporter Jo Min-jung = Homeplus CEO Jo Joo-yeon said about the sales situation of Homeplus on the 12th, "Currently, only advance payments and cash transactions are possible, so the increase in sales is very limited."
Representative Cho appeared as a witness at the Government Affairs Committee's audit of government affairs on this day and responded to a question from Democratic Party lawmaker Min Byeong-deok, who asked why voluntary retirement was implemented, which was not agreed upon when receiving 200 billion won emergency operating funds (DIP), by saying, "What I expected through the 200 billion won DIP was normalization of business, and I tried to increase inventory and sales through credit transactions, but it is not currently possible."
He added, "I am very sorry," and added, "Ultimately, I believe that the current situation can be resolved only when mergers and acquisitions (M&A) proceed as planned."
When asked about his future, CEO Cho replied, “I have not expressed my resignation.”
AI outlook — possibilities, not facts
Homeplus merger and acquisition (M&A) process underway
Likely · Within months

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