Key facts
- Homeplus has reopened all 67 of its nationwide outlets.
- Homeplus outlets were temporarily closed on July 13 due to a lack of operating funds.
- A court extended Homeplus's rehabilitation proceedings until September 4.
- Asiana Airlines shareholders approved a merger with Korean Air.
- The acquisition process for the merger took nearly six years.
- The combined entity will be named Korean Air.
- The combined Korean Air is scheduled to launch on December 17.
- South Korea's Supreme Court ordered Samsung Securities to pay NPS damages.
- The damages ordered amount to 1.86 billion won (US$1.3 million).
- The ruling stems from a 2018 dividend error where shares were mistakenly issued instead of cash.
Homeplus Co. has reopened all 67 of its nationwide outlets after a court extended its rehabilitation proceedings. The extension is set to last until September 4. The discount store chain had previously announced the temporary closure of all its locations on July 13, citing a lack of operating funds as the reason for the shutdown. The reopening signifies a step forward in the company's rehabilitation process.
In a separate development, Asiana Airlines shareholders have overwhelmingly approved a merger with its rival, Korean Air. This approval marks the conclusion of a nearly six-year acquisition process. The combined entity is slated to be named Korean Air and is scheduled to officially launch on December 17. This merger is expected to create a significantly larger airline entity in South Korea.
Additionally, South Korea's Supreme Court has ruled that Samsung Securities must pay 1.86 billion won, equivalent to US$1.3 million, in damages to the National Pension Service (NPS). This ruling is a consequence of a dividend error that occurred in 2018. At that time, an employee mistakenly issued shares instead of cash dividends, leading to financial discrepancies for the NPS.