“7조에 샀는데 껍데기만 남았다” 홈플러스가 파산 수순까지 몰린 진짜 이유

"Do you know the real reason why the store shelves were emptying out while the exterior looked fine? I expose the brutal true face of a massive 7 trillion won financial scheme hidden behind the excuse that it was because of Coupang." Homeplus, a retail giant that once stood shoulder-to-shoulder with E-Mart, commanding 130 stores nationwide and 20,000 employees. In July 2026, it effectively faced catastrophe following the Seoul Bankruptcy Court's decision to terminate its corporate rehabilitation proceedings. People say it went bankrupt because of Coupang and online shopping. However, that is a massive misconception. Homeplus's true tragedy began in 2015, the moment the private equity firm MBK Partners acquired the company for 7.2 trillion won. It was a cruel financial structure where they used only 3 trillion won of their own capital, borrowed the remaining 4 trillion won using Homeplus as collateral, and began selling off Homeplus's most profitable stores to repay that debt. Ultimately reduced to the plight of a 'tenant' forced to sell their own home to pay rent, Homeplus was forced to pay a blood price of 400 billion won every year. Even as the company rotted away, someone took over 1 trillion won and left; what remained in the end were the 12,000 employees who had vowed to save the mart even if it meant giving up their salaries, and the 8,000 suppliers. We now begin the process of the most brutal decade-long collapse in the history of South Korean retail. [Timeline] 00:00 The Mart with Open Doors, But Rotting Inside 01:15 The Heyday of a 7.2 Trillion Won Giant 02:30 Don't Blame Coupang, the Real Cause Lies Elsewhere 03:45 The Cruel Design of Private Equity Funds: How to Buy Debt with Debt 05:10 Homeplus Becomes a Tenant Paying Rent by Selling My Own Home 06:40 400 Billion Won in Fixed Annual Bleeding and Investment Depletion 08:15 Empty Shelves, Broken Trust in Suppliers 09:50 July 2026, Abolition of Rehabilitation Proceedings and a Stopped Heart 11:20 Tears of the Weak Receiving the Final Bill #Homeplus #HomeplusBankruptcy #PrivateEquityFund #MBKPartners #CollapseOfHypermarkets #CorporateRehabilitationProceedings #EconomicStorytelling #Capitalism #SaleAndLeaseback #FinancialTrends