MBK Partners, owner of Homeplus, will inject an additional sum of up to 200 billion won, or around 142-point-nine million U.S. dollars, into the troubled discount chain to take social responsibility for the situation.
MBK said in a statement Wednesday that it will utilize profit from its assets under management in order to provide the funds, pledging to help ease the burden on the buyer of the chain, which is currently undergoing corporate rehabilitation.
MBK has already provided 300 billion won to Homeplus through gifts and guarantees.
In a separate statement, MBK said it deeply regrets its failure to fulfill social responsibility to the chain and promised to establish a social responsibility committee, including external experts, to ensure that all investment activities reflect the values of coexistence and responsibility.
The nation's largest private equity firm fully acquired Homeplus from British retailer Tesco for seven-point-two trillion won in 2015.
Homeplus became financially strapped amid a slump in the industry and entered court-led rehabilitation proceedings in March of this year.