Korean PE Industry Proposes to Self-Regulate After Homeplus Woes

South Korea’s private equity fund industry promised new “self-regulation” after a string of controversies including the abortive Homeplus Co. buyout led by billionaire Michael Kim’s MBK Partners shook public confidence and triggered calls for tighter oversight.

Kim’s MBK Partners is facing multiple probes and possible sanctions over its 2015 acquisition and subsequent management of Homeplus, once South Korea’s second-largest supermarket chain. It filed for court receivership earlier this year after prolonged losses.