Homeplus has secured emergency financing to restart operations, but has yet to say when employees and former workers will receive unpaid wages and retirement benefits, leaving thousands in limbo even as plans to reopen stores move forward. A Homeplus store in Seoul. Homeplus has secured emergency financing and announced plans to restart operations, though uncertainty remains over its restructuring and payments to workers. (Yonhap) The retailer said the debtor-in-possession, or DIP, loan of 200 billion won ($137 million) will be used to reopen 67 key stores currently under temporary closure and gradually resume online operations beginning with 16 stores in the Seoul metropolitan area.However, the company said the funds will first be used to cover essential operating expenses, including payments to merchandise suppliers, overdue rent and utility bills, while delayed employee wages and outstanding payments owed to small-business vendors will be paid "in parallel."Homeplus did not disclose how much of the 200 billion won will be allocated to unpaid wages, the order in which payments will be made, or when employees and retirees can expect to receive the money.The uncertainty has fueled concerns among workers, many of whom have gone weeks without full pay.The company paid 40 percent of employees' June wages on July 13. Assuming Homeplus' monthly payroll is around 30 billion won, industry estimates suggest roughly 15 billion won in June wages remain unpaid. The Ministry of Employment and Labor, however, previously estimated the retailer’s total wage arrears for June at approximately 33.3 billion won.Former employees also remain in limbo.On Wednesday, Homeplus notified retirees that retirement benefits scheduled for payment that day would be delayed because of a funding shortage. The delayed payments include final salary settlements, unused annual leave allowances and employer contributions to both defined-benefit and defined-contribution retirement pension plans. Industry estimates put the unpaid retirement-related obligations at around 60 billion won.Meanwhile, Homeplus’ labor costs continue to grow.Since suspending operations at stores nationwide on July 13, the company has placed most employees on temporary leave while retaining only essential staff. Under Korean labor law, workers on leave are generally entitled to at least 70 percent of their average wages as leave allowances.While workers await payment, Homeplus is pressing ahead with its turnaround strategy, focusing on food, private-label products and a curated selection of daily essentials, in what it describes as a Trader Joe's-style business model.The Seoul Bankruptcy Court on Tuesday extended Homeplus’ rehabilitation proceedings until Sept. 4, giving the retailer more time to finalize a restructuring plan and prepare for a court-supervised sale.---Homeplus announced temporary closures last week as it filled its appeal. Watch our earlier report below. – Ed.