Billionaire Private Equity Tycoon Becomes Mired in Korea Probe

Legal troubles and mounting losses at Homeplus threaten legacy of billionaire Michael Kim

Protesters including Homeplus employees rally against MBK Partners and the discount chain’s management on May 1.
Source: KFSU-Homeplus Union

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By Yoojung Lee, Filipe Pacheco, and Haram Lim

May 22, 2025 at 8:48 PM EDT

Updated on

May 23, 2025 at 5:05 AM EDT

Michael ByungJu Kim, one of Asia’s most prominent private equity tycoons, built his MBK Partners Ltd. into a regional powerhouse with marquee deals and tens of billions in assets under management.

Now, a controversial bet on Homeplus, once the nation’s second-largest supermarket chain, has returned to haunt him.