Overview

• The Seoul Central District Prosecutors’ Office conducted search-and-seizure operations at the headquarters of Homeplus and MBK Partners on April 28, 2025.
• Investigators are probing claims that Homeplus and MBK Partners knowingly issued 82.9 billion won in short-term bonds on February 25, just days before a credit downgrade.
• Homeplus filed for corporate rehabilitation on March 4, halting its debt obligations and raising concerns over the timing of its bond issuance.
• South Korea’s Financial Supervisory Service referred the case to prosecutors on April 21, citing evidence that MBK Partners was aware of the downgrade risk earlier than disclosed.
• Four brokerage firms, including Shinyoung Securities, have filed criminal complaints against Homeplus executives, alleging fraudulent practices in the bond sales.