Kim Byung-joo, Chairman of MBK Partners, has decided not to attend the National Assembly's Committee on Political Affairs emergency inquiry.
According to the investment banking (IB) industry and political circles on the 14th, Chairman Kim submitted a letter of absence to the committee that day.
In the letter, Chairman Kim noted, "I fully understand that it is my duty to attend the inquiry and respond sincerely to the commissioners' questions, and I am also well aware of the committee's significant interest in the matters related to Homeplus. However, I am concerned that I may not be able to provide satisfactory answers to the questions posed by the members, as I am involved in the funding and investment processes of MBK Partners but not in the management of individual portfolio companies where investments have already been completed."
He added, "Kim Kwang-il and Jo Joo-yeon, the representatives of Homeplus, who were also selected as witnesses alongside me, will provide detailed answers to all inquiries that your committee may have. If sufficient answers are not provided during the inquiry process, I will ensure to respond to your committee's questions in writing or through other means later on."
The Committee on Political Affairs plans to hold a full meeting on the 18th to summon those involved in the Homeplus rehabilitation situation and inquire about the background of this rehabilitation application. On the 11th, it was agreed by both ruling and opposition parties to select Chairman Kim, Kim Kwang-il, Vice Chairman of MBK Partners and co-CEO of Homeplus, Jo Joo-yeon, co-CEO of Homeplus, Kim Jeong-ho, President of Shinyoung Securities, and Kang Kyung-mo, Vice Chairman of the Homeplus Membership Association, as witnesses.
Chairman Kim stated, "I am very sorry for causing concern to the public regarding this Homeplus-related matter, and I am taking this situation seriously. I will work to minimize the damage to those involved."