News
Korean HomePlus labour union demands answers on "private equity sale"
In response to reports of a potential sale of HomePlus stores (Tesco Korea) to several private equity groups, the HomePlus labour union is demanding the formation of a National Joint Committee of Korean stakeholders (workers, consumers, and suppliers) that will be affected.
On July 1st members of the HomePlus labour union attempted to deliver a letter to HomePlus CEO Doh Sung-Hwan. The company refused to answer any questions on the sale or receive the letter from the union, instead the company closed their doors and prevented union members from entering.
The sale of HomePlus will affect 25,000 employees and 2,000 suppliers. The Korean Federation of Trade Union (KCTU) will meet with the HomePlus Labour union this week to discuss strategies in dealing with the sale including the forming of a National Joint Committee of stakeholders.