Sharp Increase in Personal Bankruptcy Filings in Gyeonggi-do in the First Half of the Year

A personal bankruptcy applicant visiting the Gyeonggi Financial Welfare Center is receiving an explanation from a counselor.

Personal bankruptcy (debt adjustment support) applications are rapidly increasing in Gyeonggi Province.

The Gyeonggi Province Financial Welfare Support Center (Gyeonggi Financial Welfare Center) announced on the 31st that 499 personal bankruptcy applications were processed through three courts in the province?Uijeongbu, Incheon, and Suwon?that handle insolvency cases in the first half of this year. This is nearly double the 277 cases during the same period last year. In particular, Uijeongbu District Court recorded the highest number with 191 cases in the first half of this year.

The center cited the following reasons for the increase in applications: ▲ strengthened on-site cooperation by Gyeonggi Province’s Welfare Policy Division and Legal Affairs Officer (meetings, provision of free legal support) ▲ improved working conditions for center staff led by the entrusted agency, Gyeonggi Welfare Foundation (measures to protect counselors who perform emotional labor) ▲ establishment of a friendly cooperative system with local governments where regional centers are located (support for creating a counseling-friendly environment construction in Suji-gu, Yongin City, and support for relocating Anseong Center to the downtown area in Anseong City).

Kim Neungsik, Director of the Gyeonggi Province Welfare Bureau, stated, "We must prevent people from taking their own lives because they cannot bear their debts," adding, "Gyeonggi Province will do its best to provide debtors with opportunities to start their lives anew."

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