¢Ã By August 2023, the total number of bankruptcy cases (corporate rehabilitation, corporate bankruptcy, general rehabilitation, individual rehabilitation, individual bankruptcy, and exemption) filed in courts nationwide was 137,484, an increase of 21.36% compared to the same period of the previous year. In particular, corporate rehabilitation cases increased by 63.82%, and corporate bankruptcy cases increased by 58.59% compared to the same period last year.
¢Ã Suwon Bankruptcy Court and Busan Bankruptcy Court seriously recognized the great need for bankruptcy cases to be promptly processed for the debtor’s speedy return to economic life and significantly shortened the processing period for corporate bankruptcy cases. In the case of the Suwon Bankruptcy Court, it took 73 days from filing a corporate rehabilitation case to rendering the decision prior to the opening of the Suwon Bankruptcy Court. Yet, it took 37.2 days after the opening of the new court. In the case of the Busan Bankruptcy Court, it took 118.2 days from filing a corporate rehabilitation case to the case decision before the opening of the Busan Bankruptcy Court. Yet, it took 67.5 days after its opening.
¢Ã If bankruptcy courts are additionally established in High Court regions where bankruptcy courts are not established (Daegu, Daejeon, and Gwangju), it will contribute to the stabilization of the national economy by prompt and proper handling of bankruptcy cases in response to the recent rapid increase in corporate and individual bankruptcy cases. It will also alleviate regional variations in bankruptcy judicial services so that the public can enjoy high-level, specialized bankruptcy judicial services regardless of region.
¢Ã The Supreme Court will continue to actively support bankruptcy courts specializing in bankruptcy cases to play an essential role in helping the recovery of individuals and companies in economic crises and contributing to the sound development of the national economy.