Gov't to continue supporting workers, businesses affected by Homeplus

The government will continue to support workers and businesses affected by the recent financial troubles at Homeplus, the finance ministry said Friday.

The Ministry of Finance and Economy held a task force meeting to review the progress of support measures for those affected by the rehabilitation proceedings of the struggling retail giant, including the operation of a consultation channel for workers at the labor ministry.

The labor ministry has provided consultation services in 1,935 cases as of Thursday, offering guidance on available government support measures.

The government earlier pledged to provide up to 21 million won ($14,300) to each employee with unpaid wages, along with low-interest loans of up to 10 million won at an interest rate of 1.5 percent.

South Korea has so far provided 41 billion won through the low-interest loan program in 8,934 cases as of the previous day.

Homeplus earlier faced financial troubles amid an industrywide downturn in the discount retail sector and entered court-led rehabilitation proceedings in March last year.

The proceedings were terminated by a loc ...