경쟁사 쉬는 날에도 문 열었는데..'하나로마트'의 굴욕 / SBS 모닝와이드 2부

[Anchor] Hanaro Mart is owned by the National Agricultural Cooperative Federation (NACF), and its affiliate, Nonghyup Economic Holdings, operates two subsidiaries: Nonghyup Hanaro Distribution and Nonghyup Distribution. These are large Hanaro Marts located in cities, but it is reported that they have been incurring deficits in the tens of billions of won since 2022. Video Mug reporter Yeo Hyeon-kyo provides the details. [Reporter] ① Deficit for 4th Consecutive Year, Surviving on Bank Loans Nonghyup Distribution's operating loss last year was 30.5 billion won, a 40% increase in just one year. Nonghyup Hanaro Distribution's operating loss last year was also 39 billion won. Nonghyup Distribution borrowed nearly 100 billion won from Nonghyup Bank, and paid 3 billion won in interest expenses last year. It is essentially surviving on bank money, and a red light has been turned on for its financial condition. Nonghyup Distribution fell into partial capital impairment last year, and its debt ratio jumped from 110% in 2024 to 164% in 2025. Store deficits are not just a problem for one or two locations. It is a common issue across stores nationwide. According to data received from the National Agricultural Cooperative Federation by People Power Party Representative Kim Sun-kyo during last year's parliamentary audit, the proportion of deficit-ridden stores under the two subsidiaries has been on an upward trend every year. It stood at 13 out of 60 locations (21.7% of the total) in 2020, but skyrocketed to 35 out of 62 locations by August 2025. This represents more than a twofold increase in just four years. Why has it come to this? ② Costs have decreased, so why are there deficits? This is where the strange part lies. It is unlikely that the deficit is due to poor business, as the burden of costs has actually decreased. Let us examine Nonghyup Distribution, one of the two subsidiaries. The cost of goods sold ratio, or the proportion of costs incurred when purchasing products, dropped from 86% to 82%. In November 2021, NH Economic Holdings merged four distribution subsidiaries into a single entity called "Nonghyup Distribution" under the banner of "strengthening management efficiency." This enabled bulk purchasing and created a structure where goods could be bought at lower prices. However, the deficit persisted precisely because of "selling, general, and administrative expenses." S&A expenses refer to costs incurred in sales and management, such as labor costs, rent, and marketing expenses. These expenses surged from the 170 billion won range just before the merger to nearly 280 billion won last year. In particular, salaries alone jumped from 69.9 billion won to 102.3 billion won. ③ Purchasing Rights for the Holding Company, Distribution Just Selling? A bigger problem is that NH Economic Holdings has taken over the authority to purchase agricultural products. [Lee Man-hee / People Power Party Member: (NongHyup) Economic Holdings is receiving an interim ladder fee of nearly 27 billion won. What is this? Even after receiving this, (NongHyup) Economic Holdings is still unable to escape its deficit state. Despite the merger of Hanaro Distribution and NongHyup Distribution, which were previously managed perfectly well, it is incurring massive losses. So, does this mean that this merger ultimately failed to generate proper synergy effects and instead worsened the management situation? Is that correct?] [Park Seo-hong / CEO of NongHyup Economic Holdings: Yes, as a result, that is...] ④ These results despite being in a 'regulation-free zone' In fact, Hanaro Mart is in an advantageous position. This is because, unlike other large supermarkets, it is not subject to regulations such as mandatory closures twice a month or the ban on late-night operations. It was granted an exception because the proportion of sales from agricultural and fishery products exceeds 55%. It is essentially a so-called 'regulation-free zone' where it can operate even on days when competitors are closed. However, they failed to secure even the indirect benefits. This situation is starkly different from that of other large supermarkets, which are navigating the challenges of the retail industry by rapidly reading consumer trends amidst regulations, utilizing direct commerce, reducing selling and administrative expenses, and employing superior marketing strategies. [Seo Yong-gu / Professor, School of Business Administration, Sookmyung Women's University: Due to the burden of real estate rents, underperforming stores actually need to be closed, but the pace of this closure is slow. I believe it is urgently necessary to develop private brands and retailer brands that are sold exclusively at Hanaro Mart.] The fallout from this slump is affecting farmers. Nonghyup Distribution pays an annual agricultural support fund in exchange for using the name "Nonghyup." This money is used for support projects for farmers, such as rev...