South Korea's FSS Suspends MBK Partners Operations Over Home Plus Investor Protection Breach

According to Yonhapnews, South Korea's Financial Supervisory Service (FSS) sanctioned private equity firm MBK Partners on July 2 with an operational suspension for failing to protect investor interests during its Home Plus acquisition. The FSS found that MBK breached investor protections by altering RCPS (redeemable convertible preferred stock) conditions in Home Plus's favor, affecting the National Pension Service (NPS) and other stakeholders.

On July 9, a parliamentary meeting on Home Plus restructuring discussed whether MBK should retain its qualification as an NPS investment manager, citing repeated problematic financial conduct and the recent FSS sanction, which triggers automatic review criteria under NPS fund management standards.