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Photo courtesy of Homeplus |
[Alpha Biz= Kim Jisun] Seoul, August 27, 2025 — Korean financial regulators have launched an additional investigation into MBK Partners in connection with the ongoing “Homeplus case,” just five months after their initial probe in March. The move is widely interpreted as reflecting the stance of newly appointed Financial Supervisory Service (FSS) Governor Lee Chan-jin.
On August 27, officials from the Financial Services Commission (FSC) and the FSS dispatched investigators to MBK Partners’ headquarters in Gwanghwamun, Seoul, to conduct an on-site inspection.
A regulatory official explained, “The purpose is to re-examine whether there were any unfair transactions related to the Homeplus case.”
In its earlier investigation, regulators scrutinized allegations that MBK Partners’ management engaged in fraudulent activity by issuing short-term debt while concealing preparations to file Homeplus for corporate rehabilitation proceedings.
The latest probe is expected to take a closer look at MBK’s 2015 acquisition of Homeplus, including the fundraising process involving limited partners (LPs) and the leveraged buyout (LBO) structure used to finance the deal.
Governor Lee Chan-jin’s involvement is seen as pivotal. In 2021, while serving on the National Pension Service’s Fund Management Committee, he raised concerns over the NPS’s investment in MBK following the firm’s restructuring of Homeplus after the acquisition.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
