Business · Companies · 4 hrs ago
South Korea corporate bankruptcy filings more than doubled in four years
Court data in South Korea show corporate bankruptcy filings reached 2,282 last year, up from 955 in 2021.
That is a rise of about 139% in four years, faster than the increase in company rehabilitation cases.
Personal debt-restructuring applications rose 84%, from 81,030 in 2021 to 149,147 in 2025.
This process lets people with regular income repay part of their debts over three years, or up to five years.
Personal bankruptcy filings stayed above 40,000 a year over the past five years, while property auction applications climbed nearly 60% between 2021 and 2025.
The figures point to growing debt pressure among businesses and households amid a prolonged downturn.
A lawmaker called for faster, fairer court handling of debt and auction cases, and for support that links people to jobs, income and a fresh start.
South Korean corporate bankruptcy filings rose to 2,282 in 2025, about 2.4 times the 955 recorded in 2021.
The figures come from an analysis of court yearbook data by the office of lawmaker Park Ji-won.
Filings increased every year from 2021 through 2025, rising 139% over the period.
Personal rehabilitation applications also rose, from 81,030 in 2021 to 149,147 in 2025.
The articles cite high interest rates, weak domestic demand and mounting business costs as pressures behind the increase.
- Who
- South Korean companies filing for corporate bankruptcy. The figures were analysed by the office of lawmaker Park Ji-won.
- What
- Corporate bankruptcy applications rose to 2,282 in 2025, about 2.4 times the 2021 total.
- When
- The figures cover 2021 to 2025.
- Where
- South Korea.
- Why
- The articles cite accumulated business difficulties amid high interest rates and weak domestic demand.
This story does not have two clearly opposing sides.
Courts received 955 corporate bankruptcy applications.
Corporate bankruptcy applications rose to 1,004.
Corporate bankruptcy applications rose to 1,657.
Corporate bankruptcy applications rose to 1,940.
Courts received 2,282 corporate bankruptcy applications.
- Corporate bankruptcy applications in 2021
- 955
- Corporate bankruptcy applications in 2025
- 2,282
- Rise in corporate bankruptcy applications, 2021–2025
- 139%
- Personal rehabilitation applications in 2025
- 149,147
- Real estate auction applications in 2025
- 99,296
What people are saying
These court statistics starkly show the reality facing businesses and households.
In the field, as sales fall, more businesses and self-employed people are unable to cover labor costs, rent and loan interest, and end up turning to the courts.