Saturday, October 31, 2026 · Evening
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Economy · Planned · 6 sources combined p. 1 / 4
Homeplus 6 stores
Photo: 한국경제 In short Six Homeplus locations in the Seoul metropolitan area face power cutoff due to unpaid electricity bills.
Power cutoff was scheduled for October 27-30, and the Incheon Songdo store was added in November.
When power is cut, about 10 in-store businesses like beauty salons will have to close as well.
Key facts When Power cutoff was scheduled for October 27-30, and the Incheon Songdo store was added as a target in November. Where Six locations: Homeplus Pocheon Songwoo, Kinex, Goyang Terminal, Namyangju Jinjeop, Paju Unjeong, and Gajwa stores. What Korea Electric Power Corporation announced power cutoff due to unpaid electricity bills. Why Homeplus is facing financial difficulties, dividing employee salaries of around 20 billion won monthly.
What it means for me
All Shop owners
Customers at affected stores should check in advance whether operations will be suspended.
In-store vendors at affected stores may have to stop operations immediately if power is cut.
Why does this matter? Financial difficulties are threatening not only store closures but also the livelihoods of in-store vendors.
Economy · 6 sources combined p. 2 / 4
Homeplus cancels voluntary retirement
Photo: 연합뉴스 In short Homeplus has withdrawn voluntary retirement applications it received this month.
Payment of 75% of remaining August wages has also been postponed indefinitely.
Some stores face power outages due to unpaid electricity bills.
Key facts When On October 29, Homeplus notified employees of the voluntary retirement cancellation. Who About 400 employees who applied between October 7-14 are affected. What Payment of 75% of remaining August wages has been postponed indefinitely. How Lack of liquidity forced delays in both severance and wage payments.
What it means for me
All Shop owners
Homeplus customers and tenant businesses should be aware of potential disruptions to store operations.
Small business tenants at Homeplus should watch for service disruptions from power outages and delayed payments.
Why does this matter? Cash shortages at the large retailer undergoing corporate restructuring are affecting employee wages and severance procedures.
Economy · 6 sources combined p. 3 / 4
CJ and Dou Kium Consortium
Photo: 한국경제 In short CJ Group has partnered with Dou Kium Group to enter the bidding for JoongAng Ilbo acquisition.
The main bidding for JoongAng Ilbo sale closed on October 19, and CJ Group joined at the final stage.
CJ Group is the third-largest shareholder holding 9.24% stake in JoongAng Ilbo through its subsidiary.
Key facts When Main bidding for JoongAng Ilbo sale closed on October 19. Who CJ Group formed a consortium with Dou Kium Group. What The two groups participated in the main bidding for JoongAng Ilbo management rights acquisition. How CJ Group holds 9.24% stake as third-largest shareholder through CJ OliveNetworks.
What it means for me
Changes in news organization ownership structure can affect editorial direction and the overall media industry.
Why does this matter? A large conglomerate entering the sale of JoongAng Ilbo, which is undergoing restructuring, is expected to bring changes to the media landscape.
Economy · 4 sources combined p. 4 / 4
Choi Tae-won meets Sam Altman
Photo: 연합뉴스 In short SK Group Chairman Choi Tae-won had lunch with OpenAI CEO Sam Altman, who visited Seoul.
Key executives from SK Hynix and SK Telecom also attended the meeting.
While specific discussion details were not disclosed, strengthened cooperation in memory and data center sectors is being discussed.
Key facts When Chairman Choi Tae-won and CEO Sam Altman had a lunch meeting at a location in Seoul on the 31st. Who Key executives from SK Hynix and SK Telecom are reported to have attended together. What There is a possibility they discussed cooperation on high-bandwidth memory (HBM) supply and AI data center construction. How They are continuing cooperation based on a memory supply Letter of Intent (LOI) and Memorandum of Understanding (MOU) concluded in October 2025.
What it means for me
While there is limited direct impact on general readers, the expansion of AI semiconductor demand could affect the overall domestic economy.
Why does this matter? Expanded AI infrastructure cooperation between SK and OpenAI could affect South Korea's semiconductor and telecommunications industries.
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