The rising healthcare costs in South Korea have pushed numerous individuals into bankruptcy, with a staggering 15,476 people filing for personal bankruptcy due to medical expenses over the last five years. Among these, many are victims of chronic illnesses, such as a man identified as Park Sang-cheol, whose monthly medical bills can reach up to 1 million Korean won. Despite his ongoing treatments, financial pressures force him into precarious employment, showcasing the severe impact of healthcare costs on individuals with serious health conditions.

According to the data obtained by a lawmaker from the National Assembly, there were a total of 21,3509 applications for personal bankruptcy between 2021 and 2025, with 72.5% of these applications being granted by the courts. The leading cause for bankruptcy in this period was business failures or a decrease in business income, followed closely by job loss and increased living expenses. However, the increasing medical bills, which account for 10% of all bankruptcies, highlight the growing issue of healthcare affordability among the population, with yearly figures indicating a concerning trend.

Analyzing the annual statistics illustrates that the sector of the population most affected by medical costs is increasing at a rate of roughly 2,000 to 3,000 each year. This persistent trend presents a critical challenge for policymakers who must address the burden of medical expenses on families while improving healthcare accessibility and affordability.