Workers at the Homeplus hypermarket chain have called on the retailer’s largest shareholder, MBK Partners, to take charge of reviving the company, saying it was irregular for the shareholder to preemptively file for corporate rehabilitation. 

The Korean Mart Labor Union and the Homeplus workers expressed their views Thursday at a news conference in front of the MBK headquarters in Seoul. 

Pointing out that roughly 20-thousand direct management personnel and some 100-thousand laborers work for Homeplus, the union and the workers said they strongly oppose the restructuring plan. 

The chief of the labor union, Kang Woo-chul, said Homeplus is on the verge of falling apart because of MBK, saying it was out of step with common practice for the private equity firm to file for corporate rehabilitation as a preemptive step to address potential financial issues. 

Kang stressed that MBK must not pursue restructuring, saying such a move would kill Homeplus, and called on MBK chair Kim Byung-ju to take responsibility even if that means applying for assets.