Travel
Korea’s Homeplus to suspend operations at 7 stores, including Busan and Ulsan
Haps Magazine Korea
January 16, 2026
(Photo courtesy of Haps Magazine Korea)
Homeplus has announced plans to suspend operations at several stores in Busan and Ulsan as part of ongoing efforts to address worsening financial conditions.
On January 14, the company informed employees that seven additional locations nationwide will halt operations, including the Homeplus Busan Gamman store and the Ulsan Nam-gu branch.
These closures follow earlier shutdowns at other nearby locations, further reducing Homeplus’s footprint in the southeastern region.
In Busan, the Gamman store closure comes after a previous suspension at the Jangnim branch, signaling a continued pullback in key urban and industrial districts.
Ulsan is also seeing a noticeable contraction, with both Buk-gu and Nam-gu locations now affected.
Homeplus stated that employees at the impacted stores will be offered transfers to other branches where possible, with the aim of minimizing job losses.
The retailer has been under financial strain since entering restructuring procedures, and recent cash flow issues and supplier payment disruptions have accelerated decisions to suspend additional store operations.