Homeplus secures 309 billion won in cash balance and resumes payment on trade receivables - Korea

Homeplus, a major South Korean supermarket chain, announced on the 6th that it has resumed payments on general commercial receivables that had been temporarily suspended following the start of corporate restructuring procedures.
According to the company, its available cash balance as of today was 309 billion won (approximately 31.5 billion yen), and it had raised 100 billion won through its operating activities in March.
The company said, "As our total available funds exceed 600 billion won, we have no problems paying off our general commercial receivables."
"We will resume payments on general commercial debt from today and will gradually repay the full amount," he explained. In the corporate rehabilitation procedure, general commercial debts with partner companies are subject to full repayment.
All commercial transactions that are made after the decision to enter into rehabilitation procedures must be settled normally. A company official said, "We will all work together to complete the rehabilitation procedures as quickly as possible.
"We will strive to do so."