Financial authorities plan to closely inspect retail giant Homeplus' payments to its suppliers and take further action if necessary, as the company has begun a court-led rehabilitation process.

The measures were discussed on Friday during a meeting between the Financial Services Commission(FSC), the industry ministry, the Financial Supervisory Service(FSS), the Korea Federation of Banks and the Industrial Bank of Korea.

The government also intends to monitor the banking industry's support plan for the suppliers.

The FSS, meanwhile, has launched an inspection of Shinyoung Securities,  Korea Investors Service and Korea Ratings, to investigate allegations raised during Homeplus' rehabilitation application.

While the authorities assess that the retail chain's rehabilitation application has had a limited impact on the financial markets, they forecast that market caution may increase toward some weakened industries.