The cooperative framework for the '100-Day Livelihood Recovery One-Stop Project' and the mobile Hope Consultation Bus [Busan city government]
The cooperative framework for the '100-Day Livelihood Recovery One-Stop Project' and the mobile Hope Consultation Bus [Busan city government]

Busan signed MOUs Wednesday morning with seven institutions at the International Protocol Hall of City Hall to launch the "100-Day Livelihood Recovery One-Stop Project." The partner institutions are the Busan Rehabilitation Court, BNK Busan Bank, the Korea Legal Aid Corporation, the Credit Counseling and Recovery Service, the Korea Asset Management Corporation, the Busan Bar Association and the Busan Judicial Scriveners Association.

The agreement aims to build a cooperative framework for helping residents and small business owners quickly recover from bankruptcy, business rehabilitation or debt restructuring. Following the signing, the city launched its first "Hope Consultation Bus," a mobile unit providing on-site counseling and one-stop services.

Bankruptcy and rehabilitation filings in Busan jumped from 8,263 cases in 2022 to 20,242 in 2025. Among small business owners who have decided to close, 68.5 percent carry debt, with average liabilities reaching 85.31 million won ($60,500). The biggest hurdle in the closure process was loan repayment, cited by 45.5 percent of respondents.

The city will operate a one-stop support system — covering mobile consultations, application assistance, cost support and follow-up management — so residents and small business owners can access help without visiting multiple agencies.

Two Hope Consultation Buses will make regular rounds across key locations in Busan, covering the original city center, central, eastern and western districts. Experts will assess each individual's debt situation and recommend the appropriate course of action — whether bankruptcy, rehabilitation or debt restructuring — and, where needed, coordinate with partner institutions to assist with document preparation and application filing.

The Busan Rehabilitation Court will review and support expedited processing of bankruptcy and rehabilitation procedures, while the Korea Legal Aid Corporation and the Credit Counseling and Recovery Service will assist with document preparation and debt restructuring consultations. The Korea Asset Management Corporation will connect clients with debt restructuring programs such as the Fresh Start Fund, and BNK Busan Bank will provide the mobile consultation bus infrastructure and on-site operational support. The Busan Bar Association and the Busan Judicial Scriveners Association will offer in-depth expert consultations and legal services related to bankruptcy and rehabilitation filings.

Through a supplementary budget, the city plans to cover out-of-pocket expenses incurred during the bankruptcy or rehabilitation filing process — including attorney fees, document issuance costs, delivery fees and stamp duties — up to 1 million won per person.


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