The Financial Supervisory Service will begin an inspection of major shareholder MBK Partners on the 19th in relation to Homeplus's application for corporate rehabilitation (court receivership).
Lee Bok-hyun, head of the Financial Supervisory Service, noted on the 19th, “I will begin inspections of MBK Partners today to verify the suspicions raised by the Homeplus incident.” This marks the first time the Financial Supervisory Service has launched a thorough inspection of a private equity firm regarding a specific matter.
According to the Capital Market Act, the head of the Financial Supervisory Service is authorized to inspect the operations and financial status of dedicated private equity funds when necessary to ensure the stability of the financial market or to maintain sound transaction order.
Earlier, the Financial Supervisory Service had initiated inspections of two credit rating agencies, Shinyoung Securities and Korea Ratings, on the 13th to verify the facts and suspicions surrounding Homeplus's rehabilitation application.