[Jeon Daegyu's 7 Wins 8 Losses] Regrets on 'Ojingeo Game'

The globally sensational Netflix series "Squid Game" is a nine-episode drama depicting a survival game where participants (456 people), who are drowning in debt and at the end of their lives, risk their lives to win a prize of 45.6 billion won. Even the author, who usually does not watch dramas, binge-watched all nine episodes. "Squid Game" concludes with the titular game, which was a popular alley game in the 1970s and 80s, following games like "Mugunghwa Flower Has Bloomed" (a Korean version of Red Light, Green Light), "Dalgona Candy Challenge," "Tug of War," "Marbles," and "Crossing the Bridge." Factors contributing to its success include "restrained expression," "maintaining tension from start to finish with very detailed writing," and "the depiction of two completely separated social classes as seen in the Korean film Parasite." From the author's analysis, the connection comes from viewers finding their own current situations reflected among the participants, creating a sense of unity with them. During the COVID-19 pandemic, people everywhere are facing hardships. It is even harsher for those heavily in debt. Most participants enter the game burdened with enormous debts. Their situation, tormented by endless debt, is worse than participating in a deadly game.

Gi-hun (played by Lee Jung-jae) lost his job due to restructuring ten years ago and has been living as a substitute driver without securing a proper job. Eventually, he gets divorced and even loses custody of his child to his ex-wife. His mother endures diabetic foot ulcers while running a small business to support the family. Sang-woo (played by Park Hae-soo), a graduate of a prestigious university, suffers huge losses in futures trading, while his mother, unaware of his situation, barely manages to make ends meet through her business. Other episodes dealing with the characters' pasts reveal that all of them ended up in debt due to misfortune. Perhaps viewers see their own reflections in these participants.

What options do people burdened with excessive debt at the edge of a cliff have? In "Squid Game," they seek a breakthrough by participating in a life-risking survival game. Although the drama was entertaining, it was not pleasant. The way it portrayed the vulnerable was unsettling, and the method of resolving debt issues was hard to accept. As someone who has long handled rehabilitation and bankruptcy cases, the author kept thinking about the personal bankruptcy system throughout the drama. However, the drama does not realistically implement this. Why is that? Of course, since the drama aims to entertain, it could not have developed the story by having characters apply for personal bankruptcy. But if it were reality, would resolution through personal bankruptcy be possible?

The personal bankruptcy system is designed to help individuals escape excessive debt and make a fresh start. However, not all individual debtors are eligible for relief. Sang-woo, who suffered huge losses in futures trading, may not be granted discharge because it could be considered gambling-related debt, which is a ground for denial of discharge. However, even if it is gambling-related, there is room for discretionary discharge by the court, so it is regrettable that the characters did not apply for personal bankruptcy before participating in the deadly game. In Gi-hun’s case, even if discharge is possible, a fresh start is unlikely without finding a job. For the personal bankruptcy system to function as a social safety net, it is necessary to establish socioeconomic systems such as job creation to ensure life after discharge. This is why cooperation between the courts and the government is crucial in operating the personal bankruptcy system.

This content was produced with the assistance of AI translation services.