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Homeplus, Korea Zinc unions join forces to condemn MBK Partners

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·Labor groups call for tougher private equity oversight, government intervention The labor unions of Homeplus and Korea Zinc have teamed up for the first time to intensify the pressure on private equity firm MBK Partners, accusing it of prioritizing profits over workers and long-term corporate sustainability.

·The two groups stressed that Homeplus' ongoing corporate rehabilitation and MBK's attempt to gain control of Korea Zinc are manifestations of the same problem during a joint press conference at a Homeplus hunger strike site in Gwanghawmun Square, central Seoul, on Tuesday.

·The groups called on the government to intervene more actively and tighten regulations on private equity funds.

·"We work at different companies, but we are suffering under the same investment company's greed," said the Homeplus union chapter.

·"MBK has ignored its responsibility to foster companies and protect workers and local communities, pursuing only profit while pushing workers' livelihoods to the brink." The union claimed that Homeplus has continuously sold off assets and real estate over the past decade since its takeover in 2015, leading to numerous store closures and forcing many employees to lose their jobs or relocate.