![[Seoul=NEWSIS] Reporter Hwang Jun-seon = Homeplus, which is undergoing corporate rehabilitation proceedings, has overcome a major hurdle toward business normalization after its rehabilitation plan was approved at the creditors' meeting held on the 2nd at the Seoul Bankruptcy Court and subsequently received court approval. The photo shows a Homeplus store in downtown Seoul on the 3rd. September 3, 2026./Photo=Hwang Jun-seon](https://thumb.mt.co.kr/cdn-cgi/image/f=avif/21/2026/10/2026100115315836344_1.jpg)
Homeplus, which is undergoing rehabilitation proceedings, failed to enjoy the special sales boost during the Chuseok holiday, one of the largest shopping seasons for large marts. It appears that consumer demand has shifted to competitors due to disruptions in product supply caused by delayed settlements with partner companies and the inability to operate pre-orders for holiday gift sets.
According to data analysis solution provider Mobile Index on the 1st, Homeplus's estimated credit and check card payment amount was 40.7 billion won during the two weeks before and after the Chuseok holiday, from the 13th to 26 of last month. This represents a decrease of approximately 86% compared to the 294.3 billion won in payments recorded during the two weeks surrounding the 2024 Chuseok holiday (the 8-21), before the company entered rehabilitation proceedings. These figures do not include corporate wire transfers, cash, gift certificates, or mobile payment amounts.
During the same period, E-Mart's payment amount was 513.1 billion won, and Lotte Mart's was 186.6 billion won. It is analyzed that a significant portion of the Chuseok demand lost by Homeplus has been absorbed by competing large marts.
Homeplus is failing to sustain the effect of its reopening and capture consumer foot traffic. Following its reopening on August 15, daily payment amounts on the first weekend reached up to 11.6 billion won, attracting consumer interest. However, on the weekend immediately preceding Chuseok, payments were only 4.4 billion won on September 19 and 4.3 billion won on the 20th, with daily payments failing to exceed 5 billion won throughout September. This contrasts sharply with E-Mart and Lotte Mart, which recorded payment amounts in the 40 billion won and 17 billion won ranges, respectively, on the same weekend.
Analysis suggests that the failure to secure sufficient inventory ahead of the Chuseok peak season impacted sales performance. It was also confirmed that some partner companies redirected their Chuseok gift set inventory to other large marts instead of Homeplus due to delayed settlements by Homeplus.
In fact, Mr. Kim, a representative of a partner company supplying products to Homeplus, explained, "We have not received full settlement for goods for 6 to 7 months, making it impossible to supply products properly," and added, "We reduced the volume supplied to Homeplus for this year's Chuseok to one-tenth of our usual level."
Homeplus's inability to operate pre-orders for Chuseok gift sets is also cited as a factor in missing holiday demand. Large marts typically secure large volumes of gift sets through pre-orders ahead of holidays to capture early demand. In fact, E-Mart's gift set pre-order sales from August 6 to the 13th of last month increased by 10.3% year-on-year, while Lotte Mart's pre-order sales from August 6 to the 14th of last month rose by 14.9%.
A vicious cycle is also emerging where reduced product variety leads to decreased consumer foot traffic. An industry official stated, "Due to its financial situation, Homeplus is operating primarily with fast-turning products or items that can maintain a standard mart assortment." The official added, "Operating with only some products makes the shelves appear empty to consumers, making shopping difficult. Ultimately, consumers stop visiting the store, sales decline, and the structure becomes entrenched where it becomes difficult to secure products again."
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