As of August 2023, compared to the same period of the previous year (August 2022), individual rehabilitation cases increased by 40.94%, corporate rehabilitation cases increased by 63.82%, and corporate bankruptcy cases increased by 58.59%.
▣ As of August 2023, the total number of bankruptcy cases filed in courts nationwide was 137,484, an increase of 21.36% compared to the same period in 2022. Among all types of bankruptcy procedures, individual rehabilitation cases, individual bankruptcy cases, corporate rehabilitation cases, and corporate bankruptcy cases all increased except exemption cases.
▣ In particular, in the case of individual rehabilitation cases, there was an increase of 40.94%. In the case of corporate cases, there was an increase of 63.82% in corporate rehabilitation and 58.59% in corporate bankruptcy.
▣ In the future, the Supreme Court will continue to monitor the trend and processing status of bankruptcy cases. It will support prompt independence and rehabilitation of citizens in economic crisis by providing professional and efficient measures to handle bankruptcy cases, with Bankruptcy Courts specializing in bankruptcy cases in Seoul, Suwon, and Busan. On the other hand, the Court will do its best to overcome regional variations in bankruptcy judicial service and ensure that all citizens can evenly enjoy high-quality judicial service in bankruptcy, including by promoting the establishment of additional Bankruptcy Courts in High Court regions where Bankruptcy Courts are not established (Daegu, Daejeon, and Gwangju).
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