Homeplus
Homeplus is a South Korean discount hypermarket chain serving general consumers through physical stores and online delivery. Owned by MBK Partners, the company is under court-supervised rehabilitation, has cut its store footprint from 126 to 67, and is pivoting to a Trader Joe's-style slim store format.
- Company typePrivate
- Founded1999
- HeadquartersSeoul, South Korea
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
What Homeplus does
Homeplus is a South Korean discount retail chain operating hypermarket and (until May 2026) compact supermarket formats under the Homeplus and Homeplus Express brands, serving general Korean consumers through a network of physical stores and an online delivery platform. Founded in 1999 (originally as Tesco Korea), the company was acquired by private equity firm MBK Partners in 2015 for approximately $5–6 billion through a leveraged buyout and is wholly owned by MBK Partners. Its product portfolio spans groceries, household essentials, private-label goods, and a slate of in-store tenant offerings (restaurants, pharmacies, cafes), with revenue generated through in-store product sales, online/quick-commerce transactions (Magic Now), and tenant lease income.
The business is currently in court-supervised rehabilitation initiated in March 2025 following a prolonged downturn in Korea's discount retail sector, where online channels have risen to 59% of total retail and Homeplus's hypermarket market share has fallen below 10%. The company has reduced its store footprint from 126 to 67 locations by permanently closing 37 underperforming stores, sold its Homeplus Express supermarket chain to NS Shopping (Harim Group) for 120.6 billion KRW, and secured 200 billion KRW in debtor-in-possession financing from Meritz Financial Group (with personal guarantees from MBK Partners Chairman Michael ByungJu Kim) to continue restructuring through September 4, 2026. Operational distress is severe: daily sales have collapsed from 23.8 billion KRW to 5.3 billion KRW, debt-to-equity stands near 3,000%, unpaid wages total 33.3 billion KRW affecting 11,337 employees, and approximately 4,600 suppliers are owed a combined ~410 billion KRW.
The company is pursuing a strategic pivot to a Trader Joe's-style slim store format of approximately 1,000 pyeong, emphasizing single-floor layouts, private-label products, and high-turnover daily essentials, with the remaining 67 hypermarket stores and headquarters/online units being marketed for M&A sale by Samil PricewaterhouseCoopers under court supervision. Representative Director Cho Ju-yeon leads the company from its Seoul headquarters in Gangseo-gu.
Homeplus firmographics
Firmographics- Name
- Homeplus
- Legal name
- Homeplus Co., Ltd.
- Website
- https://join.homeplus.co.kr
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Homeplus is a South Korean discount hypermarket chain serving general consumers through physical stores and online delivery. Owned by MBK Partners, the company is under court-supervised rehabilitation, has cut its store footprint from 126 to 67, and is pivoting to a Trader Joe's-style slim store format.
- Ownership category
- akta.pro rank
Homeplus industry classification
Industry- Product category
- Discount Retail / Hypermarket
- NAICS
- Department Stores (455110), Supermarkets and Other Grocery Retailers (except Convenience Retailers) (445110)
- SIC
- Retail-Misc General Merchandise Stores (5399), Retail-Grocery Stores (5411)
- akta.pro primary industry
- Regional / Local Hard Discount Chains (CRAHADAJ)
- akta.pro secondary industries
- Limited-Assortment Hard Discounters (Private-Label Led) (CRAHADAA), Mid-Tier Department Stores (Home-Led) (CRAGACAC)
Keywords
Where Homeplus is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices1 record
Markets served
Homeplus business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations
Revenue model
- Physical Retail Sales: Revenue generated from in-store product sales at hypermarket locations across South Korea.
- Online/E-commerce Sales: Revenue from online grocery delivery and quick commerce operations.
- Tenant Lease Revenue: Revenue from leasing space within stores to small business tenants including restaurants, pharmacies, and cafes.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels1 record
Homeplus product offering
Product offeringCore offering
Homeplus operates a chain of discount hypermarkets in South Korea selling groceries, daily necessities, and private-label products. The company runs physical hypermarket locations as well as an online grocery delivery platform, and is restructuring toward compact single-floor 'slim store' formats modeled after Trader Joe's, focused on private-label products and high-turnover essentials.
Product overview
Homeplus is a South Korean discount retailer operating hypermarket (Homeplus Hyper) and compact supermarket (Homeplus Express) formats. The company was wholly acquired by private equity firm MBK Partners in 2015. Following court-supervised rehabilitation proceedings initiated in March 2025, Homeplus sold its Express supermarket division to NS Home Shopping and is restructuring its remaining hypermarket operations, planning to convert some locations to compact 'slim stores' focused on private-label products and essentials. The company also operated quick commerce services through its Express format.
Differentiator
Problem solved
Functional benefit
Products and services
- Homeplus Hypermarket
- Magic Now Quick Commerce
- Homeplus Online Grocery Delivery
Quantifiable outcome
- Daily sales declined from 23.8 billion won to 5.3 billion won over the past year
Companies that use Homeplus
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles1 record
Homeplus technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Homeplus partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- NS Shopping (Harim Group)coreAcquired Homeplus Express supermarket division for approximately 120.6 billion won ($82.2 million). The deal expanded NS Shopping from TV home shopping into nationwide offline retail. This sale was critical for Homeplus' court-supervised rehabilitation.
- Samil PricewaterhouseCoopersminorManaging the M&A sale of Homeplus' remaining business units (headquarters, online, hypermarkets) through open bidding subject to Seoul Bankruptcy Court approval.
Scale indicators14 records
Recent moves6 records
Expansion highlights4 records
Homeplus competitors and assessment
Company assessmentEmerging players
- Market Kurly: Korean online grocery and quick commerce operator competing with Homeplus's Magic Now service for next-day and same-day grocery delivery in dense urban areas.
- NS Home Shopping (Harim Group): Acquired Homeplus Express for 120.6 billion won in May 2026, transitioning from TV home shopping into nationwide offline retail, making it a direct operator and structural peer in Korean discount retail.
Broad incumbents
- Tesco: Former parent of Homeplus (then Tesco Korea) prior to the 2015 MBK Partners buyout, providing a benchmark for how a global discount retail operator runs a Korean footprint.
- Trader Joe's (private): U.S.-based limited-assortment, private-label-led grocery chain explicitly cited by Homeplus as the model for its new slim store format, providing a direct strategic reference point for the company's turnaround plan.
- Coupang (Coupang Eats / Rocket Delivery): Korea's largest e-commerce and quick commerce platform, representing both a major competitive threat to Homeplus's online operations and a benchmark for the digital retail shift reshaping Korean consumer behavior.
Direct peers
- Lotte Mart: Major Korean hypermarket chain operated by Lotte Group, directly competing with Homeplus on discount retail, grocery, and household goods across physical stores nationwide.
- E-Mart (Shinsegae): Korea's largest hypermarket chain and Homeplus's primary direct competitor in the discount retail sector, operating under Shinsegae Group with similar physical hypermarket formats and private-label strategies.
- Costco Korea: Membership-based warehouse retail chain operating in Korea, competing with Homeplus for bulk grocery and general merchandise shoppers through a different value-priced format.
Regional players
- GS Retail (GS25): Operates Korea's largest convenience store chain GS25 alongside supermarket formats, serving overlapping Korean consumers seeking convenience-driven grocery and household purchases.
- Nonghyup Hanaro Mart: Agricultural cooperative-affiliated supermarket chain in Korea offering discounted fresh and grocery products, competing with Homeplus for price-sensitive Korean grocery shoppers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks7 records
Key highlights6 records
Customer concentration
Homeplus social profiles
Digital presenceHomeplus financial estimates
Financial estimateRevenue estimate
Valuation estimate
Homeplus leadership team
Management profileNumber of profiles
Profiles2 records
Homeplus subsidiaries and ownership
Company hierarchySubsidiaries1 record
Homeplus funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Homeplus M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Homeplus
What does Homeplus do?
Homeplus operates a chain of discount hypermarkets in South Korea selling groceries, daily necessities, and private-label products. The company runs physical hypermarket locations as well as an online grocery delivery platform, and is restructuring toward compact single-floor 'slim store' formats modeled after Trader Joe's, focused on private-label products and high-turnover essentials.
Is Homeplus a public or private company?
Homeplus is a private company. It is classified as private equity controlled and is currently operating.
When was Homeplus founded?
Homeplus was founded in 1999. It employs 5,001 to 10,000 people.
Where is Homeplus based?
Homeplus is headquartered in Seoul, South Korea, in the Asia region.
How does Homeplus make money?
Three revenue lines are on record. Physical Retail Sales are the primary driver. The others are online/E-commerce Sales and tenant Lease Revenue.
Who are Homeplus's main competitors?
Emerging players on record are Market Kurly and NS Home Shopping (Harim Group). Broad incumbents are Tesco, Trader Joe's (private) and Coupang (Coupang Eats / Rocket Delivery). Direct peers are Lotte Mart, E-Mart (Shinsegae) and Costco Korea. Regional players are GS Retail (GS25) and Nonghyup Hanaro Mart.
Does Homeplus have an API?
No public API is recorded for Homeplus.
What industry is Homeplus in?
Homeplus's product category is Discount Retail / Hypermarket. Its primary akta.pro industry code is CRAHADAJ, Regional / Local Hard Discount Chains, with a secondary code of CRAHADAA, Limited-Assortment Hard Discounters (Private-Label Led). Its NAICS code is 455110 and its SIC code is 5399.