Wang Miyang, President of the Korean Women Lawyers Association: "Bankruptcy Is a Process of Returning, Not a Failure" [Interview]

13 Years as a Personal Bankruptcy Trustee
Met with Over 2,400 Debtors
Most Were Ordinary Neighbors Facing Crises
"We Must Open a Path for Recovery"

"Bankruptcy is not a failure. It is a process of returning to society."

Wang Miyang, President of the Korean Women Lawyers Association (KWLA) and a Senior Law Firm attorney (29th class of the Judicial Research and Training Institute), who has served as a personal bankruptcy trustee for 13 years, defines bankruptcy not as a "mark of failure," but as a "system for returning to society."

Wang Miyang, President of the Korean Women Lawyers Association, is being interviewed on the 17th at Senior Law Firm in Seocho-gu, Seoul. Photo by Kang Jinhyung

A personal bankruptcy trustee is an expert appointed by the court who investigates and manages the applicant's assets and ensures fair distribution to creditors. During her career as a bankruptcy trustee, Wang has met with more than 2,400 debtors, including celebrities, doctors, and self-employed individuals. Through this experience, she realized that the bankruptcy system is not merely a mechanism for debt relief, but a recovery system that enables individuals to regain their place in society.

Wang explained, "At first, I had prejudices against those who filed for bankruptcy," but added, "When I met them in person, I found that most were ordinary neighbors facing unexpected crises, such as caring for sick family members, unemployment, or business failures, and they were challengers trying to get back on their feet." She recalled, "There was someone who filed for bankruptcy while suffering to the point that their life was falling apart, and I recently received news that they are doing well. Moments like that make me feel deeply grateful and fulfilled."

As president of the KWLA, she is credited with strengthening both the organization's external outreach and internal unity. The KWLA is an institution that continuously supports public interest litigation for vulnerable groups and works on related policy and institutional improvements.

Since Wang took office as president in January last year, the KWLA has led the "Free Legal Support Project for Victims of Stalking and Dating Violence," providing legal assistance in over 500 cases within just over a year. The association has also actively promoted member exchanges and activities, such as sports events and volunteer work. Wang stated, "Although the KWLA is an organization with nearly 60 years of history, internal strength is essential for effective external cooperation. Building a foundation where members can work with pride is a key task."

To junior women lawyers, she advised not to strive for a perfect balance between work and family. Wang said, "A sustainable approach is more important than perfection," and emphasized, "My goal is to create an environment where women are not restricted because of their gender and can grow at their own pace."

Wang Miyang, President of the Korean Women Lawyers Association, is being interviewed on the 17th at Senior Law Firm in Seocho-gu, Seoul. Photo by Kang Jinhyung

Wang is also deeply interested in the ongoing societal discussion regarding the "write-off of long-term small delinquent debts." This system involves the government and financial sector jointly writing off small debts of borrowers who have been unable to repay for more than seven years.

Recently, the government launched the "New Leap Fund," a bad bank to help long-term delinquent borrowers discharge their debts. Wang commented, "For those whose economic activity has already been cut off, we need to open a path for them to recover their credit and get back on their feet after a certain period. I believe this is a responsibility that society must share."

She concluded, "Bankruptcy is not an individual's failure, but a challenge for society. Ensuring that people are not abandoned-that is the reason why the law must exist."