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Busan Launches Mobile Hope Counseling Bus for the “100-Day One-Stop Livelihood Recovery Project”!

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Busan Metropolitan City, led by Mayor Chun Jae-soo, will hold a Memorandum of Understanding ceremony for the “100-Day One-Stop Livelihood Recovery Project” at 9:50 a.m. today, August 19, in the International Protocol Room at Busan City Hall. The project is designed to ease the burden of bankruptcy, rehabilitation, and debt restructuring for residents and small business owners, and the ceremony will also mark the inaugural operation of the Mobile Hope Counseling Bus.

The project is one of the key initiatives under the approximately KRW 1.3783 trillion “Busan 100-Day Emergency Measures for Livelihoods” announced by the City on July 1.

Eight organizations will participate in the agreement: Busan Metropolitan City, the Busan Bankruptcy 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 Association of Certified Judicial Scriveners. Together, they will establish a cooperative framework to help residents and small business owners in need of bankruptcy, rehabilitation, or debt restructuring support recover as quickly as possible.

Following the signing ceremony, the Mobile Hope Counseling Bus, which will provide on-site counseling and one-stop services, will begin its first operation.

Applications for bankruptcy and rehabilitation in Busan have risen sharply in recent years, while debt burdens among small business owners have also emerged as a major obstacle to business closure and economic recovery.

The number of bankruptcy and rehabilitation applications in Busan increased from 8,263 in 2022 to 20,242 in 2025, surpassing 20,000 cases.

In addition, 68.5 percent of small business owners who decided to close their businesses were carrying debt, with average debt amounting to KRW 85.31 million. A total of 45.5 percent cited loan repayment as the greatest difficulty they faced during the business closure process.

In response, the City will operate a one-stop support system spanning mobile counseling, applications, financial assistance, and follow-up support so that residents and small business owners can receive the help they need without having to visit multiple organizations individually.

First, two Mobile Hope Counseling Buses will regularly visit key locations across the old downtown, central, eastern, and western areas of Busan to provide on-site counseling.

At each location, specialists will assess each individual’s debt situation and recommend an appropriate course of action for bankruptcy, rehabilitation, or debt restructuring. When necessary, applicants will be connected with relevant organizations and professionals for assistance with applications, submissions, and document preparation.

The Busan Bankruptcy Court will review and support measures to expedite bankruptcy and rehabilitation proceedings, while the Korea Legal Aid Corporation and the Credit Counseling and Recovery Service will assist with application documents and provide debt restructuring counseling. The Korea Asset Management Corporation will connect applicants with debt restructuring programs, including the New Start Fund.

BNK Busan Bank will provide the mobile counseling bus infrastructure and support on-site operations, while the Busan Bar Association and the Busan Association of Certified Judicial Scriveners will provide in-depth legal consultations by professionals and legal services related to bankruptcy and rehabilitation applications.

The City will also provide financial assistance and follow-up support for residents who hesitate to use bankruptcy, rehabilitation, and related programs because of the financial burden.

Through a supplementary budget, the City plans to cover up to KRW 1 million per person in actual expenses incurred during bankruptcy and rehabilitation applications, including professional fees, document issuance fees, service fees, and court filing fees.

By December this year, the City plans to provide at least 200 cases of one-stop support for bankruptcy, rehabilitation, and debt restructuring. It will also support meaningful economic recovery through follow-up assistance, including connections to policy financing, financial education, information on business closure support programs, and legal and financial welfare counseling.

Mayor Chun Jae-soo said, “We will ensure that no resident or small business owner misses out on timely bankruptcy, rehabilitation, or debt restructuring support simply because they are overwhelmed by the demands of making a living, complicated procedures, or financial burdens.”

He added, “We will go directly to those who need help and build a comprehensive livelihood safety net that seamlessly connects counseling, applications, financial assistance, and follow-up support in one place.”