SMEs ministry offers financial support to Homeplus business partners

The SMEs ministry said Tuesday it will expand financial support for Homeplus suppliers and in-store tenants facing unpaid settlements, lower sales and cash shortages despite Homeplus resuming operations on Aug. 13.

At an Aug. 25 Seoul meeting led by Second Vice Minister Lee Byung-kwon, participants called for continuing government attention and faster support.

"We will continue to monitor conditions on the ground so that prompt support is provided to normalize suppliers' and tenants' business operations, and will keep developing additional measures based on requests from the field," Lee said.

For affected small business owners, the ministry expanded eligibility for emergency management stabilization loans to Homeplus suppliers and tenants on July 15 and created a dedicated 50 billion won ($36.2 million) lending fund. Under third-quarter 2026 terms, it lowered the interest rate to 3.35 percent from 3.85 percent and raised the borrowing limit to 100 million won ($72,432) from 70 million won. For small and midsized companies, it opened a 40 billion won ($29 million) dedicated track within its emergency management stabilization fund on July 27, waiving a requirement for sales or operating profit to have dropped by at least 10 percent and lowering the rate to 3.28 percent from 3.78 percent.

The package also offers guarantee support to small and midsized companies affected by delayed settlements, uncollected payments or lost business relationships. The guarantees can provide coverage of up to 100 percent. The program extends existing guarantees by a year, provides new financing and relaxes review standards.